Plaintiffs allege Individual Defendants also gave Plaintiffs false, pessimistic, and unpromising financial information regarding the fund to dissuade them from investing, such as stating, May 2020, they estimated the fund would be approximately $200 million when it ultimately closed at $378 million. However, as to Gallant, there is no adequate remedy at law, and the cause of action is sufficiently alleged. (Complaint 48.) However, this argument does not address or resolve the failure to allege a promise by Defendants. 1-2. Beverly Hills, CA 90210 +1 310.712.1850 . Mr. Gores was born in 1964 and resides primarily in Beverly Hills with his wife and children. pushes companies to punish white-collar crime by clawing back exec pay. This case was filed in Los Angeles County Superior Courts, Stanley Mosk Courthouse located in Los Angeles, California. [3] Gores expanding his agency through acquisitions and mergers. (, Gores Group failed to allege sufficient facts to constitute a quantum meruit cause of action against the Individual Defendants since the underlying injury and the parties relationship is controlled by a contract, the Letter Agreement, and the parties do not dispute the existence or enforceability of that contract. Radaris does not verify orevaluate each piece ofdata, and makes nowarranties orguarantees about any ofthe information offered. The well-maintained, if slightly dated bathroom is finished in a greenish granite paired with white cabinetry. Therefore, ClustrMaps.com cannot be used for any purpose covered by the FCRA, Text on ClustrMaps.com is available under CC BY-NC-SA 3.0 license unless otherwise specified. A Patent Pending People Search Process. What did Disney actually lose from its Florida battle with DeSantis? Plaintiffs allege this term had no place in the underlying investment documents and Gores did not agree to impose such a restriction on Gores Group as part of its investment. ), Cross-Complainants breach contract cause of action is based on the following allegations: (1) pursuant to the Letter Agreement, AEG agreed to invest $10 million as an anchor investment in the New Fund, which Cross-Defendants promised to use best efforts to provide; (2) Gallant is an intended third party beneficiary of the Letter Agreement because it was formed for the purpose of raising the New Fund and, as such, profits made on investments in the New Fund are realized by Gallant as the management company of the funds; (3) Cross-Defendants breached the Agreement by failing to provide an anchor investment in the New Fund; (4) Cross-Complainants have been damaged as a result because they were not able to realize benefits from the anchor investment, including attracting other potential investors and accordingly forced Cross-Complainants to spend time soliciting investments from other investors. (Letter Agreement 2(a).) (Letter Agreement 1-3; pgs. (, Based on the foregoing, Defendants demurrer to Plaintiffs 2, To state a fraud claim, Plaintiffs must allege (1) a false representation; (2) knowledge or belief that the representation was false, or reckless indifference to the truth; (3) an intent to induce Plaintiffs to act or refrain from acting; (4) that Plaintiffs acted or failed to act in justifiable reliance upon the representation, and (5) damages. (Letter Agreement 5(b), (c), (d). Defendants argue Plaintiffs allegations about avoiding execution of documents merely suggests the parties were conducting negotiations as provided in the Letter Agreement. Section 6 of the Letter Agreement addresses 2017 Compensation and Vesting and provides as follows: (1) Gimbel will receive from Gores Group a $600,000 cash bonus payment, 50% of which shall be paid in Gores Groups next pay cycle following execution of the agreement and the remaining 50% shall be paid on December 31, 2018, subject to Paragraph 6(c); (2) Guagliano will receive from Gores Group a $300,000 cash bonus payment to be paid in the next pay cycle following execution of the agreement and an additional $300,000 payment upon the closing of the sale of Imagines PNO business to Belden pursuant to a definitive agreement executed on or before March 31, 2018 and subject to Paragraph 6(c); and (3) if either of the Individual Defendants breach provisions of Paragraphs 7(a) [materially], 7(b), or 8, or is otherwise not responsive to the reasonable requests of Gores Group with respect to the transition period, Gores Group shall be entitled to all remedies available to it including but not limited to revocation of accelerated vesting, claw backs of previous cash bonus payments, and/or termination of obligation to pay remaining cash bonuses. 7-8.) Cross-Defendants also argue the pleading fails to allege facts showing Cross-Defendants breached any term of the Letter Agreement given the allegations show Cross-Defendants used their best efforts. Plaintiffs allege they rejected the proposal and thereafter, their communications to Individual Defendants went unanswered. You can email the site owner to let them know you were blocked. Name: Lindsay Gores, Phone number: (818) 442-7015, State: CA, City: Sierra Madre, Zip Code: 91024 and more information Rather, the Letter Agreement covers a range of agreements between the parties, and Plaintiffs have not cited a specific term that makes Individual Defendants responsible in the event AEG does not finalize its investment Commitment. The website provides several reports under that name, where you can filter them out to find the correct one. [1] As of 2014, Paradigm represents roughly 1,000 bands and artists,[1] including Ed Sheeran, Fun., Janelle Mone and Jason Mraz;[1] and has grown to eight offices Beverly Hills, Manhattan, Monterey, Nashville, Brooklyn, Austin, Hollywood, and London and more than 300 employees. (Complaint 38-39. Below you will find a list of surnames similar to Michael Gore that were found in public records, This surname is found in public records in various versions, some of which are Gorejr, Gone, O'gore, ClustrMaps.com aggregates public records to analyze the US cities, their social demography, and business environment. CaptainSparklez Price Chops Mullet-Style WeHo Aerie. Warren Kanders resigned last year as vice chair of the Whitney Museum of American Art in New York over his ownership of Safariland, a company that makes tear gas and other equipment used by law enforcement and the military. Interior Michael S. Smith. (Demurrer, pgs. Here, Defendants do not dispute the existence of the Letter Agreement or its enforceability. On June 5, 2020, Cross-Defendants informed Individual Cross-Complainants they no longer wished to invest in the New Fund, and the New Fund closed on June 30, 2020, having raised $378 million. (Letter Agreement 4, 5(a).) Michael Garland is a Director of Diversis Capital and responsible for identifying, originating, and qualifying new investment opportunities. As such, in the event AEG was not in fact obligated to commit its investment before the first close or final close, Cross-Complainants have sufficiently pled a claim based upon Cross-Defendants alleged obstruction of the investment. The implied covenant is a backstop and requires a party in a contractual relationship to refrain from arbitrary or unreasonable conduct which has the effect of preventing the other party to the contract from receiving the fruits of the bargain. (Alliance Data Systems Corp. v. Blackstone Capital Partners V L.P. (Del. (Complaint 29.) ), Section 6 of the Letter Agreement addresses 2017 Compensation and Vesting and provides as follows: (1) Gimbel will receive from Gores Group a $600,000 cash bonus payment, 50% of which shall be paid in Gores Groups next pay cycle following execution of the agreement and the remaining 50% shall be paid on December 31, 2018, subject to Paragraph 6(c); (2) Guagliano will receive from Gores Group a $300,000 cash bonus payment to be paid in the next pay cycle following execution of the agreement and an additional $300,000 payment upon the closing of the sale of Imagines PNO business to Belden pursuant to a definitive agreement executed on or before March 31, 2018 and subject to Paragraph 6(c); and (3) if either of the Individual Defendants breach provisions of Paragraphs 7(a) [materially], 7(b), or 8, or is otherwise not responsive to the reasonable requests of Gores Group with respect to the transition period, Gores Group shall be entitled to all remedies available to it including but not limited to revocation of accelerated vesting, claw backs of previous cash bonus payments, and/or termination of obligation to pay remaining cash bonuses. Search Details, View Michael's Profiles on Facebook and 60+ Networks, michael****@gmail, View Michael's Profiles on Facebook and 60+ Networks, michael****@yahoo, View Michael's Profiles on Facebook and 60+ Networks, michael****@hotmail, View Michael's Profiles on Facebook and 60+ Networks, michael****@aol, View Michael's Profiles on Facebook and 60+ Networks, michael****@outlook. (Hiller & Arban, LLC, 2016 WL 3678544 at *2. ), Plaintiffs declaratory relief cause of action is based on allegations a controversy exists between Plaintiffs and Individual Defendants regarding their respective rights and obligations under the Letter Agreement, specifically, Plaintiffs claim they are entitled to invest in the New Fund entitling AEG to receive membership interests and percentages of carried interest while Individual Defendants deny these claims and contend AEG does not have a right to invest in the fund. Send us a tip using our anonymous form. The case status is Pending - Other Pending. However, Plaintiffs fail to cite to a provision of the Lease Agreement that made Individual Defendants responsible for whether AEG ultimately made its $10 million commitment. Specs 4,959 square feet, 4 bedrooms, 6 bathrooms. Rather, the Letter Agreement covers a range of agreements between the parties, and Plaintiffs have not cited a specific term that makes Individual Defendants responsible in the event AEG does not finalize its investment Commitment. Cross-Defendants The Gores Group, LLC (Gores Group) and AEG Holdings, LLC (AEG) (collectively, Cross-Defendants) demur to the 1st (breach of contract), 2nd (breach of the covenant of good faith and fair dealing), and 3rd (declaratory relief) causes of action in the cross-complaint of Cross-Complainants Jon Gimbel (Gimbel), Anthony Guagliano (Guagliano) (the Individual Defendants), and Gallant Capital Partners, LLC (Gallant) (collectively, Cross-Complainants). There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Image . Latest on Los Angeles Chargers cornerback Michael Davis including news, stats, videos, highlights and more on ESPN Cross-Complainants allege that Individual Cross-Complainants, while at Gores Group in 2017, decided to start their own private equity firm [Gallant], and Gores engaged them in discussions that led to a proposed deal that would grant Gores a financial stake in Gallants New Fund and its successor funds in exchange for AEG [a Gores Group affiliate] investing $10 million [or up to 5% of the New Funds total commitments] as an anchor investment in Gallants New Fund. Gallants Standing as an Intended Third-Party Beneficiary to the Letter Agreement (1. (Complaint 18.) (Cross-Complaint, 65.) (Complaint 43.) ), Section 6 of the Letter Agreement addresses 2017 Compensation and Vesting and provides as follows: (1) Gimbel will receive from Gores Group a $600,000 cash bonus payment, 50% of which shall be paid in Gores Groups next pay cycle following execution of the agreement and the remaining 50% shall be paid on December 31, 2018, subject to Paragraph 6(c); (2) Guagliano will receive from Gores Group a $300,000 cash bonus payment to be paid in the next pay cycle following execution of the agreement and an additional $300,000 payment upon the closing of the sale of Imagines PNO business to Belden pursuant to a definitive agreement executed on or before March 31, 2018 and subject to Paragraph 6(c); and (3) if either of the Individual Defendants breach provisions of Paragraphs 7(a) [materially], 7(b), or 8, or is otherwise not responsive to the reasonable requests of Gores Group with respect to the transition period, Gores Group shall be entitled to all remedies available to it including but not limited to revocation of accelerated vesting, claw backs of previous cash bonus payments, and/or termination of obligation to pay remaining cash bonuses. Quieres probar una bsqueda? Radaris will redirect you to a detailed page with real estate information about properties in the US. You may occasionally receive promotional content from the Los Angeles Times. Moreover, Plaintiffs have not sufficiently alleged fraud with requisite factual specificity. 2022-03-14, California Courts Of Appeal | Other | Michael Gores's address is 18510 Harrow Ave N, Columbus, MN 55025. El asesor que se le asignar tendr una comunicacin directa desde el principio hasta el final de su gestin y entrega. (Letter Agreement 9(a)-(e). LOS ANGELES, CA 90024, United States, Los Angeles, California (310) 209-3010 support@gores.com Personal Profiles for Lindsay B Gores from Los Angeles, CA and Lindsay Gores from Beverly Hills, CA, and two other persons with the same name, their addresses, phone numbers, emails. Ch. 2006) [implied covenant analysis will only be applied when the contract is truly silent with respect to the matter at hand, and only when the court finds that the expectations of the parties were so fundamental that it is clear that they did not feel a need to negotiate about them].). Its also got a unique celebrity history the place was sold to Gores by prominent talent manager George Shapiro, best-known as Andy Kaufmans manager and for his executive producer credits on Seinfeld. Shapiro hired Barack Obamas White House interior designer Michael S. Smith to do up his Malibu decor in a very traditionally elegant manner. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. That Dave Roberts batting order is plugged into the Lineup Analysis Tool (LAT) using Musings . This year, San Francisco became the first county in the nation to offer free phone calls when it negotiated a contract with another telecom for a fixed rate per line. Bianca Tylek, founder of New York-based criminal justice group Worth Rises, who co-signed the letter to LACMA, said that Gores saw the writing on the wall and stepped down before he could be forced out. Ret. (See XI Specialty Ins. Gore was arrested on suspicion of drug possession and booked into the Inmate Reception Center in Santa Ana, about 34 miles south of Los Angeles, on $20,000 bail. (Complaint 85-86.). Like most oceanfront Malibu homes, it also sits cheek-to-jowl between the neighbors. (Cross-Complaint 5.) To plead a breach of an implied covenant of good faith and fair dealing, Plaintiffs must allege a (1) specific implied contractual obligation; (2) a breach of that obligation; and (3) resultant damage to Plaintiffs. (Letter Agreement 6. (Complaint 19.) Individual Defendants alleged breach of the agreement is based on the fact AEG did not make its $10 million commitment to the New Fund, and as such, it was never granted the rights and privileges appurtenant thereto. Cross-Complainants allege Individual Cross-Complainants tried to get AEG to fulfill its obligation under the agreement by providing drafts of the limited partnership agreement and investment documents for Cross-Defendants review and signature in September 2018, weeks prior to the close of the first fundraising round, and after Cross-Defendants failed to meaningfully respond (only that they were reviewing the documents), the New Funds first close occurred on October 15, 2018 without AEGs anchor investment. For the purposes of a demurrer, these allegations of damages are sufficient. As to the second element, [t]hird party beneficiaries fall into two categories, a donee beneficiary [who has someone elses performance donated to him as a gift secured by the promisees consideration] or a creditor beneficiary. (Eden v. Oblates of St. Francis de Sales, 2006 WL 3512482, at *7 (Del. Results for Michael have been distilled from over 6 billion consumer records found online and offline. ), Section 9 of the Letter Agreement provides, in pertinent part, for a general release as follows: (1) Individual Defendants release the Gores Group from any and all actions arising out of or relating to Individual Defendants employment with the Gores Group or their separation from the Gores Group and the release includes and excludes certain types of claims; and (2) Individual Defendants agree that the consideration set forth in Paragraphs 6 [Compensation and Vesting] and 7 [Restrictive Covenants] constitutes the entire consideration provided under this agreement and Individual Defendants will not seek from Gores Group any further compensation or other consideration for any claimed obligation in connection with the matters encompassed by the Letter Agreement. Such firms monitor inmate communications for security and charge a premium for their services, costs typically borne by detainees and their families, a population that is disproportionately poor and nonwhite. (Complaint 33.) [3] Sam immediately went to work bagging groceries in an uncle's supermarket, and worked his way through high school as a butcher. Plaintiffs failed to allege sufficient facts to constitute their fraud cause of action. Do Not Sell or Share My Personal Information. Spokeo's database, while extensive, does not contain all U.S. warrant, arrest, court, or other related records. Nuestro personal est altamente cualificado. 13.) The letter to LACMA Director Michael Govan and the boards two co-chairs was accompanied by a petition signed by more than 100 artists that later grew to include donors, as well as artists such as Monica Majoli, John Houck and Sam Durant, who have exhibited at the museum. Los Angeles, Calmes: Heres what we should do about Marjorie Taylor Greene, This fabled orchid breeder loves to chat just not about Trader Joes orchids, Chicken-flavored ice cream? Plaintiffs fail to allege Individual Defendants breached an obligation that was imposed by the Letter Agreement. Declaratory Relief (6th COA) Individual Defendants, A declaratory relief request may proceed only if there is an actual controversy between the parties. (Cross-Complaint 65-66.) The Letter Agreement and allegations suggest Gallant was to be a donee of AEGs performance [$10 million investment], such that any profits realized as a result of such an investment were given and not consideration bargained for in exchange. (, Plaintiffs failed to allege sufficient facts to constitute their fraud cause of action. Michael B. Jordan and Jonathan Majors in Creed III/MGM. VS JOHN MARCO LUPO, ET AL. Early life and education. Securus, which Platinum acquired for $1.6 billion, provides telephone, video calls, email and other services to thousands of correctional facilities, making it the second-largest prison telecom by market share. Ch. Case Details Parties Documents Dockets David Michael Gores is a real estate salesperson in La Verne, California with license number 01502471. Resides in Los Angeles, CA . On May 18, 2021, Gores Parties filed their first amended complaint (FAC) alleging causes of action for (1) breach of the implied covenant of good faith and fair dealing (against Individual Defendants), (2) quantum meruit (by Gores Group against Gallant), and unjust enrichment (by Gores Group against Gallant). Although he quickly. The Judge overseeing this case is MONICA BACHNER. 2014). Lindsay owns the following phone numbers: (818) 762-4460 (Pacific Bell), (818) 442-7015. Powerful social search locates profiles on social networks, dating sites, online shopping, web forums, music platforms, etc. Six Sigma, Manufacturing, Lean Manufacturing, Cross Functional Team Leadership, Process Engineering, Process Improvement, Quality Assurance, Quality System, Manufacturing Operations, Project All data offered isderived from public sources. Sign up for the California Politics newsletter to get exclusive analysis from our reporters. By. ), The Letter Agreement provides that, as consideration for the agreements contained herein and for committing and not defaulting upon the Commitment, the following will occur: (1) AEG will become a member of the general partner of the New Fund with a member interest entitling it to 20% of all the New Funds carried interest with the remaining 80% being allocated to the Team, where the agreement governing the New Funds general partner shall be drafted by the New Funds counsel and reasonably acceptable to AEG; (2) AEG will become a member of the general partner for the first and second Gallant successor funds to the New Fund, with a member interest entitling it to receive 10% of all carried interest distributions with respect to the first Gallant successor fund and 5% of all carried interest distributions with respect to the second Gallant successor fund, with remaining distributions allocated to the Team; and (3) AEG will become a 20% member of the management company for the New Fund and all subsequent Gallant funds (Management Company), with an ownership interest entitling AEG to amounts, where the agreement governing the Management Company shall be drafted by the New Funds counsel and reasonably acceptable to AEG. (Reply, pg. For the purposes of a demurrer, Cross-Complainants alleged sufficient facts to state a cause of action for breach of contract. Creed 3. . You may not use our site or service, or the information provided, to make decisions about employment, admission, consumer credit, insurance, tenant screening or any other purpose that would require FCRA compliance. 2.550(A)(3), Minute Order - MINUTE ORDER (JOINT EX PARTE APPLICATION OF PLAINTIFFS/CROSS-DEFENDANTS, TH), Minute Order - MINUTE ORDER (NUNC PRO TUNC ORDER), Certificate of Mailing for - CERTIFICATE OF MAILING FOR (NUNC PRO TUNC ORDER) OF 03/23/2022, Opposition - OPPOSITION CROSS-COMPLAINANTS' OPPOSITION TO CROSS-DEFENDANTS' DEMURRER, Minute Order - MINUTE ORDER (DEMURRER OF CROSS-DEFENDANTS, THE GORES GROUP, LLC AND AEG HO), Stipulation and Order - STIPULATION AND ORDER STIPULATION REGARDING POST-MEDIATION STATUS CONFERENCE; PROPOSED ORDER, Minute Order - MINUTE ORDER (COURT ORDER), Certificate of Mailing for - CERTIFICATE OF MAILING FOR (COURT ORDER) OF 01/04/2022, Minute Order - MINUTE ORDER (POST-MEDIATION STATUS CONFERENCE), Cases involving other agreements or torts not classified elsewhere, 190, 1190, 2190, 3190, 4190, 4194, 5190, 5196. Accordingly, Plaintiffs have not alleged a breach of an obligation that had become due. Found 150 colleagues at The Gores Group, LLC. (Complaint 83.) Plaintiffs also argue their fraud cause of action is based on additional specific facts distinct from the breach of contract, namely, Individual Defendants representations in May 2020 relating to the pessimistic outlook for the fund to dissuade Plaintiffs from finalizing their investment as well as the walk away deal. Activists have not been satisfied with the pace of rate reductions. The Court in Hiller & Arban noted it is permissible for a party to seek quasi-contractual relief in the alternative to its contractual claims, and that such a practice is generally appropriate in cases where there is doubt supporting the enforceability or existence of the contract, as was the case in Hiller & Arban, where defendants reserved the right to challenge the existence of an enforceable agreement. Tel: 323.930.2588. ), The Letter Agreement provides that, as consideration for the agreements contained herein and for committing and not defaulting upon the Commitment, the following will occur: (1) AEG will become a member of the general partner of the New Fund with a member interest entitling it to 20% of all the New Funds carried interest with the remaining 80% being allocated to the Team, where the agreement governing the New Funds general partner shall be drafted by the New Funds counsel and reasonably acceptable to AEG; (2) AEG will become a member of the general partner for the first and second Gallant successor funds to the New Fund, with a member interest entitling it to receive 10% of all carried interest distributions with respect to the first Gallant successor fund and 5% of all carried interest distributions with respect to the second Gallant successor fund, with remaining distributions allocated to the Team; and (3) AEG will become a 20% member of the management company for the New Fund and all subsequent Gallant funds (Management Company), with an ownership interest entitling AEG to amounts, where the agreement governing the Management Company shall be drafted by the New Funds counsel and reasonably acceptable to AEG. As such, Plaintiffs have not alleged facts suggesting any alleged promises relating to making AEG an investor in the new fund were false at the time they were made, considering such promises were dependent on AEG committing its $10 million investment. . 11.) (, Cross-Complainants declaratory relief cause of action is based on allegations a controversy exists between Cross-Complainants and Cross-Defendants regarding their respective rights and obligations under the Letter Agreement, specifically, Cross-Complainants claim they fully complied with their obligations while Cross-Defendants breached by failing to cooperate and finalize their investment in the New Fund, and accordingly, Cross-Defendants are not entitled to any rights described in the Agreement (Cross-Complaint 68.). Gores Group failed to allege sufficient facts to constitute an unjust enrichment cause of action against the Individual Defendants since the underlying injury and the parties relationship is controlled by a contract, the Letter Agreement (See Veloric v. J.G. OpenPayrolls Toggle navigation. His older . 26 people named Jeffrey Gore found in Los Angeles-Riverside-Orange County, San Francisco-Oakland-San Jose and 6 other cities. ), Cross-Complainants allege in 2018, AEG, at the direction of Gores Groups CEO and founder Alec Gores (Gores), entered the Letter Agreement in which it agreed serve as an anchor investor in a new fund (New Fund) established by Individual Cross-Complainants through their new firm, Gallant.