Kasowitz Wins Dismissal of Lawsuit Seeking Millions from Investment Firm

Kasowitz Wins Dismissal of Lawsuit Seeking Millions from Investment Firm

On January 17, 2012, Kasowitz obtained summary judgment on behalf of investment firm Caxton Associates, LP and its healthcare affiliate, Caxton Health Holdings, LLC (CHH), dismissing an action brought by the former CEO of CHH in which he claimed an ongoing interest in CHH’s net profits along with a 10% equity stake in the company, following his termination of employment, based on alleged oral agreements and various tort and quasi-contract theories.  In dismissing the plaintiff’s complaint in its entirety, New York State Supreme Court Justice Barbara R. Kapnick held, among other things, that the plaintiff had failed to proffer evidence demonstrating that there was a “meeting of the minds” on the essential details of the plaintiff’s alleged equity interest and that “the paper trail reveals nothing more than protracted, arm’s length business negotiations that ultimately failed.”  Foster v. Kovner, 2012 N.Y. Misc. LEXIS 203, at *19-*20, 2012 NY Slip Op 30125U (Sup. Ct. N.Y. Cty., January 17, 2012).  Kasowitz partner Marc E. Kasowitz  represented the defendants in this matter.