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Contact:
Nina McCann
Director of Public Relations
Forchelli, Curto, Deegan, Schwartz, Mineo, Cohn & Terrana, LLP
516-248-1700
nmccann@ForchelliLaw.com
$65+ Million Dollar Jury Verdict
Obtained in Dallas County, Texas District Court on Behalf
of “Minority” Shareholder By Forchelli, Curto,
Deegan Attorneys Anthony V. Curto, Esq. and Joseph V.
Cuomo, Esq. as Co-Counsel with Texas Law Firm Diamond
McCarthy LLP
October 27, 2009 —The
Long Island based Forchelli, Curto, Deegan law firm by
Anthony V. Curto, Esq. and Joseph V. Cuomo, Esq. as Co-Counsel
with Texas based law firm Diamond McCarthy LLP obtained
a $65+ million jury verdict on behalf Mr. Balkrishna Shagrithaya,
the 47% owner of ARGO Data Resource Corporation, a Texas
based financial services software company. Mr. Shagrithaya
commenced an action in late 2007 against Max Martin, ARGO’s
53% owner, alleging, among other things, minority share
holder oppression, malicious suppression of dividends,
breach of fiduciary duty, breach of contract and fraud. Mr.
Shagrithaya and Mr. Martin founded ARGO close to 30 years
ago, and grew ARGO into a leading national provider of
software to commercial banks and financial institutions. After
a seven (7) week trial, the jury found in favor of Mr.
Shagrithaya on all his claims and awarded a $65 million
dividend, back compensation to Mr. Shagrithaya and reimbursement
of Mr. Shagrithaya’s legal fees.
Partner Anthony V. Curto, Esq. concentrates
his practice on structuring, negotiating, and documenting
a variety of complex transactions on behalf of regionally
and nationally known clients. For over 40 years,
he has counseled public and private corporations in major
transactional matters, including mergers and acquisitions,
joint ventures, partnering arrangements, and the reorganization
of business enterprises and assets, across a variety of
industries. He has also represented corporations in formation,
early stage, and venture capital financings, and advised
clients in private placements and public offerings of securities.
Partner Joseph V. Cuomo, Esq. concentrates
his practice on the representation of private and public
companies and emerging businesses with respect to business
law and transactional matters. He serves as “outside” general
counsel to numerous middle market private companies. His
practice also encompasses the representation of institutional
and individual investors (including venture capital funds)
and private equity funds with respect to their portfolio
company transactions.
Founded
in 1976, Forchelli, Curto, Deegan, Schwartz, Mineo,
Cohn, & Terrana
LLP is one of Long Island's most acclaimed and distinguished
law firms. Headquartered in Uniondale, NY, the firm is conveniently located for clients in
Nassau and Suffolk. The Firm employs nearly 50 attorneys
who provide counsel to a broad range of clients, including
national, regional and local businesses, major real
estate developers and organizations, banks, insurance
companies, municipalities, educational institutions,
and individuals. Personal attention and quality representation
that is both practical and cost-effective are hallmarks
of the Firm's policy towards clients.
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