LOS ANGELES, Aug. 28, 2015 — King & Spalding litigators obtained a victory on behalf of a closely held, Virginia-based management and financial advisory firm and its ownership, persuading a Los Angeles court to dismiss all claims in a high-value case.
The plaintiff in the case had alleged investment fraud, despite not having met or dealt with the management and financial advisory firm, and had sought damages of more than $1 million each from the firm and its ownership personally. On Aug. 20, a Los Angeles Superior Court judge dismissed all claims against the King & Spalding client on the basis of jurisdiction, finding that neither the management and financial advisory firm nor its owners had engaged in either solicitation or promotions targeted to California residents.
The Los Angeles-based King & Spalding team included Steven D. Park and Vincent F. Tremonti.
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