They already paid out a settlement to the folks at real Legends did they not?? I am sure the insurance company is interested if Mr. Hall knowingly sold his shares prior to this lawsuit and did not disclose it......
The situation here is easy, were they required to disclose the lawsuit at the ime of the second public offering. Ifso this company is dead the 40-50 million left in cash will be eaten by a class action which is sure to come. Did David Hall sell stock knowing that the lawsuit was not disclosed?
Hardly. Sure, they'll go up some, but competition among the insurance companies ensures that the rates don't go up too much. They know that past performance is only one factor in future claims.
"The jury ruled on 14,060 COAs at $750 per for a total of $10.5 million."
Is that true? Or is the first part of the sentence true and the second part still conjecture?
Assuming it's true, it will be interesting to see how much is covered by insurance. Conceivably, CU could come out of this no worse for the wear.
Well, Trade, that was then, and now is now. The jury has spoken. The jury ruled on 14,060 COAs at $750 per for a total of $10.5 million. It's a matter of public record and it's done.
The $14,060 relates to the awarding of profits which is provided for in sec. 3344 of the CA Civil Code, in ADDITION TO $750 per COA and court costs and attorney's fees.
$10,500,000. That's the number (not including the profit award and the attorney's fees and court costs). Under 3344, the offending party must pay $750 per unauthorized use. The jury found that CU used Miller's name 14,060 times without his consent. It's a very easy equation.