This month Bernhard Law Firm won dismissal of a $3M+ financial technology business lawsuit over the asset purchase of automated loan payment software and systems. See Orange County case no. 2023-CA-011647-O (Florida Bar disclaimer: results may not be typical. You may not have as beneficial a result, or same or similar results).

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As garnered from the pleadings, the case brought claims under a $2M asset purchase for intellectual property, and a $1M payment-processing company purchase. The sellers raised claims of fraudulent transfers under FUFTA, improper asset turnover, declaratory relief, and damages under promissory notes. However, as argued by Bernhard Law Firm, the Court had to dismiss because the parties’ mandatory forum selection clause required litigation in Canada; the multiple plaintiffs’ shotgun complaint was misjoined, raised non-existent causes of action, and failed to attach required debt notes; the multiple plaintiffs improperly sought advisory opinions and failed to join indispensable parties. The Court agreed and dismissed the action, prohibiting re-filing in Florida. If you have questions about fraud, financial and business disputes, or intellectual property litigation, please contact Bernhard Law Firm at 786-871-3349, abernhard@bernhardlawfirm.com, or www.bernhardlawfirm.com.