Cc: #L&W BD PR (US); Wine, Jamie (NY); Bruno, Nicole (NY); Harris, Nicole (CH); Greenberg, Jeffrey (LA-NY); Bauer, Steve (SF-BR); Moore, Wendy (OC); Jennings, Alex (LA); Robins, Greg (LA)
Subject: RE: Press: LA Times - Federal jury decides Middle East bank did not defraud Orange County entrepreneur
OC Business Journal article with a nice shout out to Dean:
http://www.ocbj.com/news/2016/aug/12/jury-decides-against-sjc-firm/
Date: Thursday, Aug 11, 2016, 7:41 PM
To: Dunlavey, Dean (©) <i Schecter, Danicl (CC) <>, Viohcbbi,
Ni >, Ruemmler, Kathy (DC) < >> Cc: #L&W BD PR (US) <_< mailto:# >, Wine, Jamie
OY) <>. euro, Nicole (NY)
a >>, Harris, Nicole (CH) | oo cies waa E>, Bauer, Steve (SF-BR) <->. M0072, Wendy (OC)
a >, Jennings, Alex (LA)
< >, Robins, Greg (LA)
a
Subject: Press: LA Times - Federal jury decides Middle East bank did not defraud Orange County entrepreneur
The LA Times appears to be the first media to report on the verdict. Latham references are highlighted: BUSINESS Federal jury decides Middle East bank did not defraud Orange County entrepreneur<http://fw.to/aXv1QHI>
[Farooq Bajwa] Farooq Bajwa
By Andrew Khouri
August 11, 2016
A federal jury decided Thursday that one of the Middle East’s most prominent banks did not commit fraud and steal technology from an Irvine firm that sued it for half a billion dollars in damages after their partnership collapsed.
Orange County company InfoSpan had alleged that Emirates NBD ended a partnership for a mobile payment system because it didn’t want to share revenue and stole InfoSpan’s technology to launch its own service. The Dubai-based bank, in turn, denied it stole or ever used InfoSpan’s technology. It argued that it cancelled the partnership because InfoSpan couldn’t produce a working product and misled it into thinking it was an established company, not one with little to no track record.
After deliberating for a day, the jury unanimously decided that InfoSpan did not prove its case of fraud and theft of trade secrets.
InfoSpan had asked for $540 million in damages. An attorney for InfoSpan declined to comment on the
HOUSE_OVERSIGHT_012041