Press Release: $9 Million Dollar Business Fraud Verdict
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NINE Million Dollar Business Fraud Verdict
Oakland, California: Local Businessman Wins Over $9 Million Dollars Against National Corporation For Business Fraud And Breach of Contract
On November 4, 2011, after three years of court battles in Texas and California, Pleasanton, CA business owner, Peter Allen and his attorney, Richard Korb, of the Korb Law Offices in Berkeley, CA, finally obtained justice.
Up against a large Texas-based corporation, Healthronics, Inc., that had almost destroyed Peter’s medical device business, justice arrived in the form of a jury verdict in Mr. Allen’s favor for over $9 Million Dollars.
Long-time SF-East Bay attorney, Richard Korb, who was lead counsel in the case and has represented Peter since the beginning in 2008, had this to say:
“From 2008 until now, Healthronics used its power and resources to keep Peter and his medical device company from receiving justice in the courtroom while almost bankrupting him. First, they locked Peter into a contract, and then they locked him out of the market. There were many times when Peter could have given up—but he didn’t.”
First, Peter fought and won in Texas. Then, in December 2009, Mr. Korb filed this action for Peter and Allmed Systems in Alameda County, California Superior Court (Allmed Systems, Inc. v. Healthronics, Inc. Case No. VG09488663) and associated in a top trial counsel, J. Gary Gwilliam, to join his legal team. As a result of this team effort, Peter has finally been vindicated.
Peter Allen is the owner of Allmed Systems, Inc., dba Lisa Laser USA in Pleasanton, CA, a small distributor of medical products including lasers used to treat prostate conditions. Mr. Allen entered into a distribution agreement with Healthronics in 2007 whereby Healthronics agreed to use its best efforts to market and sell the lasers. Then after locking Peter into a contract, they locked him out of the market.
The Alameda County, CA jury returned a verdict of $9,263,345.00 in favor of Peter Allen and his company. They found that Healthronics had breached the contract and made intention and negligent misrepresentations. For questions, please contact Richard E. Korb of Korb Law Offices in Berkeley, CA at 510-524-0903 or e-mail him at rekorb@comcast.net.
