Adam Caldwell, Inc. Favorable Ruling
TMLG member Mary B. Reiten successfully defended Adam Caldwell, Inc. (“ACI”) and its owner, Jennifer Caldwell, at trial in an action regarding a breach of an oral partnership agreement.
On June 10, 2015, a Central District of California judge ruled in favor of ACI. and Jennifer Caldwell, finding that Beiner Enterprises, Inc. (“BEI”) breached its fiduciary duties to ACI and Ms. Caldwell under an oral partnership agreement by cutting of ACI’s supply of electrical parts inventory (of which BEI was the exclusive supplier) and interfered with their prospective economic interests by contacting vendors and demanding they cease doing business with ACI. The Court also found that BEI attempted to negotiate the sale of ACI’s assets to a competitor without ACI’s cooperation and that ACI was not required to cooperate with such a sale because it was not in its best interests. The Court’s ruling on damages owing to Adam Caldwell, Inc. and Ms. Caldwell is pending.