Scheef & Stone secured a significant trial victory in the U.S. District Court for the District of Nevada arising from a dispute involving an investment in a MLM video streaming venture.
After a three-day bench trial in Las Vegas, the Court entered judgment for the firm’s investor clients totaling $810,445.47 in damages and attorney’s fees.
Among other things, the Court found in favor of the Plaintiffs on their claims for common-law fraud and securities fraud.
The Court further concluded that the multilevel marketing entity was the alter ego of its two principal owners, subjecting the owners to personal liability for the acts of the corporate entity.
Following a subsequent hearing, the Court awarded an additional $750,000 in punitive damages, citing the Defendants’ contradictory testimony, incomplete accounting, and the need to deter similar misconduct.
The case was tried by Partner Brent Kugler with the assistance of local Nevada counsel. Scheef & Stone Associates Haley Jones and Abbye West provided valuable support preparing the case for trial.
For media or client inquiries about Scheef & Stone’s trial and direct selling capabilities, please contact Brent Kugler or our Litigation team.