Securities Lawyers Blog
As reported, the law offices of Gana Weinstein LLP successfully represented TapImmune Inc. (TapImmune) in a contentious commercial litigation proceeding before the American Arbitration Association. TapImmune is a publically traded company that develops innovative vaccine technologies for the treatment of cancer and infectious disease including breast cancer.
The complaint TapImmune filed against Michael Gardner alleged that Gardner induced TapImmune to enter a very lucrative agreement where Gardner would receive a significant amount of stock in TapImmune in exchange for raising funds for the company. Thereafter, Gardner denied that he had agreed to raise funds for TapImmune.
The arbitrator found that Gardner made false representations to TapImmune in order to induce the company into the agreement and did not fully provide the services he was hired to perform. Moreover, the arbitrator concluded that Gardner did not intend to perform the stated services at the time he was hired. Further, the arbitrator found that Gardner knew that TapImmune would be hindered in its business efforts through his compensation arrangement.