In a recent ruling, a split Ninth Circuit panel confirmed a $5.79 million arbitration award for the founders of the now-defunct chemical technology firm Novoform Cos. The panel sided with the founders following allegations that investor and film producer James G. Robinson had engaged in inconsistent practices and litigation gamesmanship.
Notably, Robinson was found to have switched his stance on where the case should be heard, a move termed as “flipping” by the court. This decision solidifies the claim of Novoform’s founders and their right to the substantial arbitration award.
This case offers a noteworthy precedent for future legal disputes involving investor behavior and arbitration awards. Corporate legal professionals and firms may find this decision of particular interest due to its potential implications for case strategy and investor relations.
For comprehensive details on the court’s decision, the full judgment record and the ensuing legal implications, readers are encouraged to explore the coverage on Law360.