Jury Trial Date Set in Thought Convergence v. Jay Westerdal
Tuesday, November 17th, 2009
Date set for trial over troubled acquisition.
A jury trial date of April 6, 2010 has been set for the lawsuit between Thought Convergence and Jay Westerdal et al.
Thought Convergence (TCI) filed the lawsuit against Westerdal on May 1 over TCI’s purchase of Westerdal’s company Name Intelligence. Name Intelligence is best known for its DomainTools web site, but it also owns web hosting company Spry. In the suit, TCI claimed alleged breach of securities exchange agreement, breach of employment and non-compete agreements, breach of fiduciary duty, breach of covenant of good faith and fair dealing, and accounting.
Westerdal responded with a number of counterclaims, alleging a “Myriad of deliberate misrepresentations made by TCI during the negotiation process and execution of the agreement.”
Both parties have denied each others’ allegations.
The discovery cut-off is February 16, 2010 and the final pre-trial conference is scheduled for March 8, 2010. It’s rare that a case like this actually makes it to trial; it is likely the case will be settled before then.
Further Reading:
- Thought Convergence Sues Westerdal
- UPDATED: Jay Westerdal and Thought Convergence Part Ways
- Jay Westerdal Launches Counterclaims Against Thought Convergence
Tags: jay westerdal, thought convergence
Jury Trial Date Set in Thought Convergence v. Jay Westerdal – http://tinyurl.com/yjvjowe
After discovery is over, the parties can assess the strength of their case and perform a cost/benefit analysis to decide whether to proceed to trial. Mediation can sometimes result in an amicable, confidential settlement.
The way Jay is spending money, he better hope he wins cause he’ll have nothing left to pay with.
Quote -
“The way Jay is spending money”
Huh ???
What is buying?
Isn’t it interesting that this was the talk of the industry for weeks and weeks?
Domain Name Wire » Jury Trial Date Set in Thought Convergence v. Jay Westerdal – http://ow.ly/DqBi