Tag: Firm News

Pastore LLC represented the founder of the only Private Mountain Ski Club on the East Coast in connection with a dispute in Federal Court.  The Club, which is the East Coast version of the Yellowstone Club, is located in southern Vermont.    The dispute centered around UCC Article 9 and the complex assignment of interests in a LLC under Connecticut law.   The founder had an economic interest in a Limited Liability Company, which had an economic interest in a $11M 6 pack bubble chair, and the founder assigned that interest to a GRAT Trust.   As part of the settlement, the GRAT Trust will receive a distribution from the Limited Liability Company.   Monies will also flow to a former club employee and real estate developers.

Pastore LLC represents two founders of a Greenwich based hedge fund in connection with investments into the GP and interference with their relationship with a large capital source. The case is scheduled for a jury trial on March 6^th, 2023.

Earlier this month, Pastore successfully defended former hedge fund manager’s claims of unfair trade practices against investment vehicles established by heirs to a multi-billion dollar national retail company. Hon. Sheila Ozalis, presiding over the Stamford, CT Complex Litigation Docket, held that genuine issues of material fact exist as to whether defendants’ conduct was unfair and/or deceptive in a manner violating the Connecticut Unfair Trade Practices Statute.  Accordingly, plaintiff’s claims, which related to the unfair attempt to deflect an investment commitment from one of world’s largest hedge funds to a potentially competing fund, will proceed to trial.

Pastore LLC successfully negotiated the separation of C-suite executive from a publically traded Boston based bio-tech company. Key issues involved the vesting of stock options and related plan documents, adherence to Rule 144 in the disposition of stock and the scope of non-competition agreements under Delaware law.

In a decision issued November 9, 2022, the Connecticut Superior Court upheld Pastore’s position against a nationally recognized broker-dealer, holding that a FINRA arbitration provision agreed to by one’s parent does not bind a person that seeks to invalidate that very agreement. As the Court stated, plaintiff’s claims “are personal to her based on alleged tortious and illegal conduct directed toward harming her as a putative beneficiary, not her mother’s interests as the account holder.” The decision strengthens Connecticut’s strong policy against enforcing arbitration agreements against those who have not themselves agreed to arbitrate disputes.

Pastore regularly enforces and defends FINRA arbitration provisions, and is familiar with the intricacies of compelling parties to arbitrate disputes when they have so agreed.