Criminal justice activists have been hounding the 56-year-old private equity titan since his Beverly Hills firm acquired Securus Technologies in 2017. The causes of action all arise out of Individual Defendants alleged breach of an agreement entered into between Plaintiffs and Individual Defendants memorialized in a January 30, 2018 letter agreement (Letter Agreement). (Hiller & Arban, LLC, 2016 WL 3678544 at *2. 2023 Dirt.com, LLC. 12.) [3] Sam immediately went to work bagging groceries in an uncle's supermarket, and worked his way through high school as a butcher. Paradigm moved into the former headquarters of MCA Inc. on Crescent Drive in Beverly Hills and expanded its list of customers to include a broad base of Hollywood, Broadway, literary, television and musical talent. LOS ANGELES (Hollywood Reporter) - Al Gore, the world's pre-eminent environmentalist, has embarked on his toughest recycling challenge: his own cable channel. gold label distribution bud man. A; Letter Agreement 16. LOS ANGELES--(BUSINESS WIRE)--The Gores Group today announced that Unify, formerly Siemens Enterprise Communications, has closed a transaction to sell Enterasys Networks to Extreme Networks, Inc . 2021-08-03. Moreover, the Letter Agreement provides that AEG will commit [$10 million] to the New Fund, without addressing whether such commitment will be subject to further approvals or would have the potential to be restricted by Individual Defendants. Gores was accused of being misleading after firing more than double the amount of employees originally reported and cutting insurance for laid off employees, which Gores later extended until June 2020. Upstairs, the primary bedroom suite boasts a slim private balcony. (Letter Agreement, pg. [7] Gores now serves on The American Academy of Dramatic Arts Board of Trustees.[8]. David Michael Gores has real estate license number 01502471 which was issued by California Real Estate Department on 26 May, 2017. [3] Gores expanding his agency through acquisitions and mergers. David Michael Gores has a license type of Real Estate Salesperson which allows a real estate professional to perform services such as selling, buying, renting, auctioning, advertising of real estate properties, but only on behalf of a real estate broker (licensed broker who employs the sales agent). PARADIGM AGENCY. (Letter Agreement 1.) (See XI Specialty Ins. (Complaint 43.) In the Letter Agreement, the parties agreed to the following: (1) Individual Defendants agreed to form Gallant to market and seek to raise a new private equity fund (the New Fund) to pursue investments in the lower middle market; (2) AEG agreed to serve as an anchor investor in the New Fund and agreed it would commit capital in an amount equal to $10 million but not to exceed 5% of all commitments to the New Fund (Commitment); and (3) Individual Defendants and other members of the Team, (defined as Individual Defendants, two Vice Presidents, two Associates, and one business development professional) agreed to collectively commit at least $1 million to the New Fund. First, the cause of action is based on promises Individual Defendants allegedly made in the Letter Agreement with respect to promising Plaintiffs that AEG would be included as an investor in the Gallant New Fund. Click a location below to find Jeffrey more easily. (Complaint 48.) RSI HOLDING LLC, A DELAWARE LLC, ET AL. Section 7 of the Letter Agreement provides that Individual Defendants are permitted to disclose the Track Record and solicit investors in any funds managed or sponsored by Gores Group and its affiliates in connection with fund raising activities or otherwise provided that Individual Defendants agree any marketing materials referencing the Track Record or Gores Group must be reviewed and approved by Gores Group prior to dissemination and that Individual Defendants will coordinate with Gores Group regarding their solicitation of New Fund Commitments from investors in any funds managed or sponsored by Gores Group. Co. v. WMI Liquidating Tr., 93 A.3d 1208, 121617 (Del. ), On August 31, 2020, Plaintiffs filed their complaint in the instant action alleging causes of action for breach of contract (against Gimbel and Guagliano (collectively, Individual Defendants)), breach of covenant of good faith and fair dealing (against Individual Defendants), fraud false promise (against Individual Defendants), quantum meruit (by Gores Group against all Defendants), unjust enrichment (by Gores Group against all Defendants), and declaratory relief (against Individual Defendants). Therefore, ClustrMaps.com cannot be used for any purpose covered by the FCRA, Text on ClustrMaps.com is available under CC BY-NC-SA 3.0 license unless otherwise specified. (, Based on the foregoing, Defendants demurrer to Plaintiffs 2, To state a fraud claim, Plaintiffs must allege (1) a false representation; (2) knowledge or belief that the representation was false, or reckless indifference to the truth; (3) an intent to induce Plaintiffs to act or refrain from acting; (4) that Plaintiffs acted or failed to act in justifiable reliance upon the representation, and (5) damages. Prior to Diversis, Michael spent several years working in a variety of corporate finance roles in private equity and M&A. Michael graduated from Loyola Marymount University with dual majors in finance and . During a January 2020 in-person meeting, Individual Defendants expressed to Gores they did not want to include him or his entities as investors and/or partners in their new fund. The state with the most residents by this name is Minnesota, followed by California and Colorado. Plaintiffs have framed the Letter Agreement as an unconditional promise to ensure AEG would be an investor in the New Fund; however, the terms of the Letter Agreement itself do not support this interpretation. David Michael Gores is a real estate salesperson in La Verne, California with license number 01502471. Lot Size 7,074 square feet. pushes companies to punish white-collar crime by clawing back exec pay. Individual Defendants alleged breach of the agreement is based on the fact AEG did not make its $10 million commitment to the New Fund, and as such, it was never granted the rights and privileges appurtenant thereto. The poor Democrats trapped in the bloody and broken city of Chicago finally came to their senses. (Cross-Complaint 21, Exh. Based on the foregoing, Cross-Defendants demurrer to Cross-Complainants 1st cause of action is overruled. The controversy was discussed last week at a Board of Trustees meeting, an attendee told The Times, during which Gores defended the investment and told trustees about how his Platinum Equity firm was in the midst of reforming Securus. This is a testament to that fact that the greater arts community will not accept anything less than full transparency and accountability from our institutions. The Gores Group has announced or closed nine SPAC deals since 2015, totaling $58 billion in transaction value. As such, these allegations do not demonstrate Individual Defendants intentions prior to executing the Letter Agreement. But Gores has apparently grown tired of the Palisades that particular house was recently back on the market, asking nearly $7.5 million. Why is this public record being published online? After school, he worked without salary as an agent at The Gage Group, Inc., founded by Martin Gage, for almost two years while selling shoes on the side to support himself. (Complaint 53. Michael Gores We found 13 records for Michael Gores in MN, FL and 5 other states. (Cross-Complaint 3, 23-25.) Bianca Tylek, founder of New York-based criminal justice group Worth Rises, who co-signed the letter to LACMA, said that Gores saw the writing on the wall and stepped down before he could be forced out. Here, the Letter Agreement provides AEG is to commit its Commitment to the New Fund and Plaintiffs allege Individual Defendants engaged in conduct that stalled AEGs efforts and prevented it from investing. 2022-03-14, California Courts Of Appeal | Other | Hotel Bel-Air. The current status of license is Licensed (Active) and it is valid till 25 May, 2021. [3], In 2005, Paradigm's entered the music industry when it acquired Monterey Peninsula Artists[1] and its roster of clients expanded to include The Black Eyed Peas, Aerosmith, Dave Matthews Band and Toby Keith. 6/21/2022: Ex Parte Application - EX PARTE APPLICATION JOINT EX PARTE APPLICATION TO CONTINUE SUMMARY JUDGMENT AND TRIAL DATES, 9/16/2020: Stipulation - No Order - STIPULATION - NO ORDER TO EXTEND TIME TO RESPOND TO COMPLAINT, 6/21/2022: Minute Order - MINUTE ORDER (INFORMAL DISCOVERY CONFERENCE (IDC)), 6/16/2022: Proof of Service (not Summons and Complaint), 6/16/2022: Notice of Lodging - NOTICE OF LODGING OF DOCUMENTS UNDER SEAL PURSUANT TO C.R.C. ), Plaintiffs allege in 2017, Individual Defendants, who were at the time Managing Directors at Gores Group, informed Alec Gores (Gores) they were considering leaving Gores Group to start their own investment fund, Gallant. (Complaint 65-67.) All Rights Reserved. Los Angeles County Superior Courts | Contract | The Judge overseeing this case is MONICA BACHNER. 3.) Disclaimer: PeekYou is not a consumer reporting agency per the Fair Credit Reporting Act. (Complaint 58(a)-(e).) 360 N. Crescent Drive . March 01 2023 08:52 PM. (Complaint 33.) Plaintiffs allege Individual Defendants also sent a list of issues they claimed would need to be resolved before the documents could be finalized, notwithstanding the funds initial closing was set to occur at the end of 2018. (Letter Agreement 6. Securus, which Platinum acquired for $1.6 billion, provides telephone, video calls, email and other services to thousands of correctional facilities, making it the second-largest prison telecom by market share. (Cross-Complaint 39, 42, 43.) "All of it is felt most keenly by the world's most disadvantaged people," Gore said during the . Cross-Complainants allege AEGs failure to provide the $10 million anchor investment obstructed Cross-Complainants from realizing the benefits of such an investment including attracting prospective investors in future rounds, not spending time and resources in securing investments from others, and likely resulting in Gores Group investors investing in the New Fund. Gores Group alleges a relationship exists between Defendants enrichment and Gores Groups impoverishment, there is no justification to Gores Groups unjust enrichment, and to the extent Defendants are not required to allow AEG to fund under the Letter Agreement, Plaintiffs have no adequate remedy at law because the Letter Agreement does not address payment for benefits conferred upon Defendants in such a situation. [1] Early life [ edit] Search Employees; . Now beckoning are the sandy shores of Malibu, where records reveal Gores has upgraded to a $17 million oceanfront house within the fabled Malibu Colony a guard-gated community known for its popularity with Hollywood types. The mansion recently sold for $38 million to billionaire Tom Gores, records show, making it one of the area's biggest sales of 2008. The Gores facade comprises three variations, randomly arranged. Fax: 323.930.2334 . 2018-09-26, Los Angeles County Superior Courts | Contract | (Cross-Complaint 9, 52-53.) Based on the foregoing, Defendants demurrer to Plaintiffs 1st cause of action is sustained with leave to amend. (Letter Agreement 5(b), (c), (d). 2.550(A)(3), 6/22/2022: Minute Order - MINUTE ORDER (JOINT EX PARTE APPLICATION OF PLAINTIFFS/CROSS-DEFENDANTS, TH), 3/10/2022: Minute Order - MINUTE ORDER (JOINT EX PARTE APPLICATION OF PLAINTIFFS/CROSS-DEFENDANTS, TH), 3/23/2022: Minute Order - MINUTE ORDER (NUNC PRO TUNC ORDER), 3/23/2022: Certificate of Mailing for - CERTIFICATE OF MAILING FOR (NUNC PRO TUNC ORDER) OF 03/23/2022, 11/19/2021: Opposition - OPPOSITION CROSS-COMPLAINANTS' OPPOSITION TO CROSS-DEFENDANTS' DEMURRER, 11/29/2021: Reply - REPLY IN SUPPORT OF DEMURRER, 12/6/2021: Minute Order - MINUTE ORDER (DEMURRER OF CROSS-DEFENDANTS, THE GORES GROUP, LLC AND AEG HO), 1/4/2022: Stipulation and Order - STIPULATION AND ORDER STIPULATION REGARDING POST-MEDIATION STATUS CONFERENCE; PROPOSED ORDER, 1/4/2022: Minute Order - MINUTE ORDER (COURT ORDER), 1/4/2022: Certificate of Mailing for - CERTIFICATE OF MAILING FOR (COURT ORDER) OF 01/04/2022, 1/27/2022: Minute Order - MINUTE ORDER (POST-MEDIATION STATUS CONFERENCE), Hearing04/17/2023 at 10:00 AM in Department 71 at 111 North Hill Street, Los Angeles, CA 90012; Jury Trial, Hearing03/30/2023 at 10:00 AM in Department 71 at 111 North Hill Street, Los Angeles, CA 90012; Final Status Conference, Hearing12/15/2022 at 08:30 AM in Department 71 at 111 North Hill Street, Los Angeles, CA 90012; Post-Mediation Status Conference, Docketat 10:00 AM in Department 71; Jury Trial - Not Held - Advanced and Continued - by Court, Docketat 10:00 AM in Department 71; Final Status Conference - Not Held - Advanced and Continued - by Court, Docketat 08:30 AM in Department 71; Post-Mediation Status Conference - Not Held - Advanced and Continued - by Court, Docketat 08:30 AM in Department 71, Monica Bachner, Presiding; Hearing on Ex Parte Application ( to Continue Summary Judgment and Trial Dates) - Held - Motion Granted, DocketMinute Order ( (Joint Ex Parte Application of Plaintiffs/Cross-Defendants, Th)); Filed by Clerk, Docketat 11:00 AM in Department 71, Monica Bachner, Presiding; Informal Discovery Conference (IDC) - Held, DocketJoint Ex Parte Application to Continue Summary Judgment and Trial Dates; Filed by Jon Gimbel (Defendant); Anthony Guagliano (Defendant); Gallant Capital Partners, LLC (Defendant), DocketStipulation - No Order (to Extend Time to Respond to Complaint); Filed by Jon Gimbel (Defendant); Anthony Guagliano (Defendant); Gallant Capital Partners, LLC (Defendant), DocketNotice (of Case Management Conference); Filed by The Gores Group, LLC (Plaintiff); AEG Holdings, LLC (Plaintiff), DocketProof of Personal Service; Filed by The Gores Group, LLC (Plaintiff); AEG Holdings, LLC (Plaintiff), DocketNotice of Case Management Conference; Filed by Clerk, DocketCivil Case Cover Sheet; Filed by The Gores Group, LLC (Plaintiff); AEG Holdings, LLC (Plaintiff), DocketComplaint; Filed by The Gores Group, LLC (Plaintiff); AEG Holdings, LLC (Plaintiff), DocketSummons (on Complaint); Filed by The Gores Group, LLC (Plaintiff); AEG Holdings, LLC (Plaintiff), DocketNotice of Case Assignment - Unlimited Civil Case; Filed by Clerk, Case Number: *******3078 Hearing Date: December 6, 2021 Dept: 71. ), Plaintiffs allege Individual Defendants refused to carry out the terms of the Letter Agreement and began insisting on changing the terms, such as, in January 2019, they began insisting Gores Group agree to insert into the investment documents a term precluding Gores Group from restructuring funds in which Individual Defendants had retained some carried interest under the Letter Agreement. View property details and household demographic information related to income, investments, and interests. Wentworth, Inc., 2014 WL 4639217, at *19 (Del. Considering that the terms in Sections 4 and 5 that entitle AEG to ownership and payment, which Plaintiffs allege Individual Defendants breached, all depend on AEG committing and not defaulting upon [its] Commitment, and given AEG never made its Commitment, Plaintiffs have not alleged an obligation Individual Defendants breached. The most quintessentially private and exclusive . CaptainSparklez Price Chops Mullet-Style WeHo Aerie. Rather, the Letter Agreement covers a range of agreements between the parties, and Plaintiffs have not cited a specific term that makes Individual Defendants responsible in the event AEG does not finalize its investment Commitment. To plead a breach of an implied covenant of good faith and fair dealing, Plaintiffs must allege a (1) specific implied contractual obligation; (2) a breach of that obligation; and (3) resultant damage to Plaintiffs. The presence or absence of records for any individual is not a guarantee of any kind. Public Records Policy. Like most oceanfront Malibu homes, it also sits cheek-to-jowl between the neighbors. ), Plaintiffs declaratory relief cause of action is based on allegations a controversy exists between Plaintiffs and Individual Defendants regarding their respective rights and obligations under the Letter Agreement, specifically, Plaintiffs claim they are entitled to invest in the New Fund entitling AEG to receive membership interests and percentages of carried interest while Individual Defendants deny these claims and contend AEG does not have a right to invest in the fund. Publications. Radaris isnot acredit reporting agency and does not offer consumer reports. (Cross-Complaint 11. Paradigm Talent Agency is part of the Business Services industry, and located in California, United States. Section 6 of the Letter Agreement addresses 2017 Compensation and Vesting and provides as follows: (1) Gimbel will receive from Gores Group a $600,000 cash bonus payment, 50% of which shall be paid in Gores Groups next pay cycle following execution of the agreement and the remaining 50% shall be paid on December 31, 2018, subject to Paragraph 6(c); (2) Guagliano will receive from Gores Group a $300,000 cash bonus payment to be paid in the next pay cycle following execution of the agreement and an additional $300,000 payment upon the closing of the sale of Imagines PNO business to Belden pursuant to a definitive agreement executed on or before March 31, 2018 and subject to Paragraph 6(c); and (3) if either of the Individual Defendants breach provisions of Paragraphs 7(a) [materially], 7(b), or 8, or is otherwise not responsive to the reasonable requests of Gores Group with respect to the transition period, Gores Group shall be entitled to all remedies available to it including but not limited to revocation of accelerated vesting, claw backs of previous cash bonus payments, and/or termination of obligation to pay remaining cash bonuses. Personal Profiles for Lindsay B Gores from Los Angeles, CA and Lindsay Gores from Beverly Hills, CA, and two other persons with the same name, their addresses, phone numbers, emails. (Cross-Complaint 2.) Cross-Complainants therefore seek a judicial declaration of their rights under the Letter Agreement. March 4, 2023 at 5:17 a.m. Ret. 9-10. [11][12][13][14][15] Gores former executive assistant, referenced in the lawsuit, called the misconduct claims blatant lies.[16] In April 2020, Gores filed a counter lawsuit, denying all allegations of impropriety and characterized the accusations as self-aggrandizing and delusional. The case is headed to arbitration. the undercover economist chapter summary. ), In the Letter Agreement, the parties agreed to the following: (1) Individual Defendants agreed to form Gallant to market and seek to raise a new private equity fund (the New Fund) to pursue investments in the lower middle market; (2) AEG agreed to serve as an anchor investor in the New Fund and agreed it would commit capital in an amount equal to $10 million but not to exceed 5% of all commitments to the New Fund (Commitment); and (3) Individual Defendants and other members of the Team, (defined as Individual Defendants, two Vice Presidents, two Associates, and one business development professional) agreed to collectively commit at least $1 million to the New Fund. Opinion: How has American healthcare gone so wrong? (Cross-Complaint 59-61.) What did Disney actually lose from its Florida battle with DeSantis? All mentioned corporate names and trademarks are the property of their respective owners. 5.196.204.173 Cross-Complainants allege Delaware law applies to the terms and interpretation of the Letter Agreement which specifically states it shall be governed and construed in accordance with the laws of Delaware. Plaintiffs fail to allege Individual Defendants breached an obligation that was imposed by the Letter Agreement. Search Details, Michael Gore's Phone #, Address & More The parties also agreed Gallant would not, without Gores Groups prior review and approval, employ any persons employed by AEG during the two-year period following the execution of the Letter Agreement. However, for the purposes of a demurrer, the reasonable best efforts clause does not cover the Individual Defendants alleged misconduct, which instead Plaintiffs assert sought to intentionally disrupt AEG committing its Commitment investment in the New Fund. On May 18, 2021, Gores Parties filed their first amended complaint (FAC) alleging causes of action for (1) breach of the implied covenant of good faith and fair dealing (against Individual Defendants), (2) quantum meruit (by Gores Group against Gallant), and unjust enrichment (by Gores Group against Gallant). (Complaint 20. (Reply, pg. (Letter Agreement 4, 5(a).) ), Cross-Complainants allege in 2018, AEG, at the direction of Gores Groups CEO and founder Alec Gores (Gores), entered the Letter Agreement in which it agreed serve as an anchor investor in a new fund (New Fund) established by Individual Cross-Complainants through their new firm, Gallant. Forest Lawn Memorial-Parks & Mortuaries- Hollywood Hills FD 904 . Effective immediately, I resign my position on the board and forego all ties to the institution., Govan issued a short email statement Friday afternoon saying, Were very grateful to Tom, not only for his generosity and support over more than a decade, but also for this additional gesture of support for LACMA right now.. The Court notes Defendants do not dispute the existence of the Letter Agreement or its enforceability, as such, Plaintiffs sufficiently alleged the existence of an underlying contract between the parties for the purposes of alleging the cause of action. LOS ANGELES, CA 90024, United States, Los Angeles, California (310) 209-3010 support@gores.com [6] They settled near Flint, Michigan. Clinton met with communist leader Kim Jong Il on . Search Details, Michael Gore's Contact Info, Social Profiles & More (Demurrer, pgs. The letter to LACMA Director Michael Govan and the boards two co-chairs was accompanied by a petition signed by more than 100 artists that later grew to include donors, as well as artists such as Monica Majoli, John Houck and Sam Durant, who have exhibited at the museum. Gore was arrested on suspicion of drug possession and booked into the Inmate Reception Center in Santa Ana, about 34 miles south of Los Angeles, on $20,000 bail. (Letter Agreement 9(a)-(e). Check resumes and CV, places of employment, social media profiles, photos and videos, skilled experts, work history, public records, arrest records and business records 8787 Shoreham Dr #403, West Hollywood, CA 90069. (Letter Agreement 1-3; pgs. (Complaint 49.) MHER HAGOPIAN, AN INDIVIDUAL VS SAMER JAYYLUSI, AN INDIVIDUAL, ET AL. Rather, as discussed above, Defendants assert they have not breached any term of the Letter Agreement. You can find arrest records for Michael Gores in our background checks if they exist. ), Cross-Complainants allege Individual Cross-Complainants tried to get AEG to fulfill its obligation under the agreement by providing drafts of the limited partnership agreement and investment documents for Cross-Defendants review and signature in September 2018, weeks prior to the close of the first fundraising round, and after Cross-Defendants failed to meaningfully respond (only that they were reviewing the documents), the New Funds first close occurred on October 15, 2018 without AEGs anchor investment. (Cross-Complaint 9-10, 54-57.) Plaintiffs allege Individual Defendants failed to provide them with information necessary to finalize AEGs investment that is routinely provided to investors including the funds portfolio, other limited partners (investors), and marketing materials. The implied covenant is a backstop and requires a party in a contractual relationship to refrain from arbitrary or unreasonable conduct which has the effect of preventing the other party to the contract from receiving the fruits of the bargain. (Alliance Data Systems Corp. v. Blackstone Capital Partners V L.P. (Del. (Notice of Demurrer, pgs. If you need to know who lives in your neighborhood, visit Radaris.com and enter your address. Michael B. Jordan and Jonathan Majors in Creed III/MGM. Performance & security by Cloudflare. David Michael Gores is a licensed real estate salesperson in the city of La Verne, California. Fraud False Promise (3rd COA) Individual Defendants, To state a fraud claim, Plaintiffs must allege (1) a false representation; (2) knowledge or belief that the representation was false, or reckless indifference to the truth; (3) an intent to induce Plaintiffs to act or refrain from acting; (4) that Plaintiffs acted or failed to act in justifiable reliance upon the representation, and (5) damages. Below you will find a list of surnames similar to Michael Gore that were found in public records, This surname is found in public records in various versions, some of which are Gorejr, Gone, O'gore, ClustrMaps.com aggregates public records to analyze the US cities, their social demography, and business environment. The employer for David Michael Gores is D/Aq Corporation (Real Estate Corporation). Sys. THE GORES GROUP, LLC, ET AL. 2006) [implied covenant analysis will only be applied when the contract is truly silent with respect to the matter at hand, and only when the court finds that the expectations of the parties were so fundamental that it is clear that they did not feel a need to negotiate about them].). ), Plaintiffs fraud cause of action is based on the following allegations: (1) on January 30, 2018, Individual Defendants promised Gores Group they would include AEG as an investor in their New Fund under the terms set forth in the Letter Agreement; (2) for two years following the execution of the Letter Agreement, specifically in late 2018, March 2019, June 2019, July 2019, November 2019, and April 2020, Individual Defendants continued to represent to Plaintiffs they intended to finalize AEGs Commitment and to include AEG as an investor in Defendants fund; (3) Individual Defendants made excuses for their delay in finalizing the Commitment; (4) Individual Defendants knew these promises were material and false, specifically, that they had no intention of including AEG as an investor in the fund; (5) in January 2020 after reaping the benefits of the Letter Agreement, Individual Defendants told Gores in an in-person meeting they did not intend to have him invest in the fund and thereafter they ended fundraising efforts without including AEG as an investor; (6) Individual Defendants made their false promises to induce Gores Group to pay them bonuses, to allow their interest in certain Gores Group funds to continue to vest, to cause Gores Group to refrain from starting its own competing fund and to allow them to continue to use the Track Record to solicit investors; (7) Plaintiffs relied on Individual Defendants promises to their detriment since Plaintiffs would not have paid them bonuses, allowed their interests in Gores Group funds to continue vesting, or allow them to use the Track Record but for the promises and would have started a competing fund of their own; and (8) Plaintiffs were damaged as a result.
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