Big Blue Products and Its Owners File Lawsuit Against European Micro Holdings, Inc., Announces Kronish Lieb Weiner & Hellman LLP.NEW YORK--(BUSINESS WIRE)--Nov. 12, 1999-- The following was announced today by Kronish Lieb Weiner & Hellman LLP: Big Blue Products filed a lawsuit today seeking $10 million plus in damages from European Micro Holdings, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : EMCC EMCC See Emerging Markets Clearing Corporation (EMCC). ) in the United States District Court for the Eastern District of New York EDNY redirects here, for other uses see EDNY (disambiguation). The United States District Court for the Eastern District of New York is the federal district court whose jurisdiction comprises the entirety of Long Island (including the portion in New York City) and Staten . The complaint was filed by Jeff Alnwick, Marie Alnwick and Big Blue Products of Huntington, Long Island. The Alnwicks and Big Blue Products are represented by Jay Spievack and Amy Held of Kronish Lieb Weiner & Hellman LLP, a New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. law firm. The 167 page verified complaint alleges that EMCC and one of its subsidiaries engaged in an illegal scheme to defraud their joint venture partners in connection with an EMCC affiliate's joint venture company -- Big Blue Europe B.V. The verified complaint alleges that EMCC's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , European Micro Plc, is a fifty percent shareholder of Big Blue Europe and that its principal shareholders, John Gallagher and Harry Shields, are two of the joint venture's four-person Board of Directors. The verified complaint asserts claims against defendant EMCC for fraud, aiding and abetting a·bet tr.v. a·bet·ted, a·bet·ting, a·bets 1. To approve, encourage, and support (an action or a plan of action); urge and help on. 2. fraud, misappropriation misappropriation n. the intentional, illegal use of the property or funds of another person for one's own use or other unauthorized purpose, particularly by a public official, a trustee of a trust, an executor or administrator of a dead person's estate, or by any of trade secrets, aiding and abetting breach of fiduciary duty and tortious interference with contract. The verified complaint also asserts claims against defendant European Micro Plc for fraud, misappropriation of trade secrets, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, breach of contract, and tortious interference with contract. Finally, the verified complaint asserts claims against defendants John Gallagher and Harry Shields, for fraud, misappropriation of trade secrets, breach of fiduciary duty, aiding and abetting breach of fiduciary duty, breach of contract, and tortious interference with contract. The verified complaint alleges that the Alnwicks are fifty percent or greater shareholders of Big Blue Europe and the remaining two directors of the joint venture's four-person Board of Directors. Therefore, the Alnwicks also asserted certain claims on behalf of Big Blue Europe against defendants EMCC, European Micro Plc and Gallagher and Shields. If you have any questions regarding the lawsuit, please contact Jay Spievack at (212) 479-6000. |
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