Opinion
2:18-cv-08446-JAK (RAOx)
11-07-2022
JIMMY ESEBAG, Plaintiff, v. JUSTIN WHALEY, et al., Defendants.
JUDGMENT
John A. Kronstadt, United States District Judge.
This action came before the Court for trial beginning August 24, 2022, and beginning again on September 13, 2022, before a duly impaneled and sworn jury. The parties to the action are plaintiff and counter-defendant Jimmy Esebag; defendants and counter-plaintiffs Justin Whaley, Rodney Redman, Ron Whaley, M. Sean Hatch, Michael Bahn, Jodie Daniels, and Tom Maddi (the “Gyde Group”); and counterdefendant United Licensing Group, Inc. The issues have been tried, and the jury rendered a verdict as to liability and compensatory damages on September 2, 2022, and a verdict as to punitive damages on September 13, 2022. The verdicts, which are incorporated by reference in this Judgment, were accepted by the Court and filed by the Clerk.
Therefore, pursuant to Rule 58 of the Federal Rules of Civil Procedure, JUDGMENT is hereby entered in this matter as follows:
IT IS ORDERED AND ADJUDGED that Jimmy Esebag's complaint is dismissed with prejudice.
IT IS FURTHER ORDERED AND ADJUDGED that judgment be and is hereby entered in favor of the Gyde Group and against Jimmy Esebag and United Licensing Group, Inc., on the Gyde Group's claims for violations of § 10b of the Securities Exchange Act and Rule 10b-5.
IT IS FURTHER ORDERED AND ADJUDGED that judgment be and is hereby entered in favor of the Gyde Group and against Jimmy Esebag and United Licensing Group, Inc., on the Gyde Group's claims for violations of § 5 of the Securities Exchange Act.
IT IS FURTHER ORDERED AND ADJUDGED that judgment be and is hereby entered in favor of the Gyde Group and against Jimmy Esebag and United Licensing Group, Inc., on the Gyde Group's claims for violations of § 25401 of the California Corporations Code.
IT IS FURTHER ORDERED AND ADJUDGED that judgment be and is hereby entered in favor of the Gyde Group and against Jimmy Esebag and United Licensing Group, Inc., on the Gyde Group's claims for common law fraud.
IT IS FURTHER ORDERED AND ADJUDGED that judgment be and is hereby entered in favor of the Gyde Group and against Jimmy Esebag for compensatory and punitive damages. United Licensing Group, Inc., from Jimmy Esebag to the Gyde Group are hereby rescinded pursuant to § 12(a) of the Securities Exchange Act and § 25501 of the California Corporations Code.
The Court therefore enters JUDGMENT in favor of the Gyde Group and against Jimmy Esebag in the following amount:
Compensatory Damages: $3,500,000.00
Punitive Damages: $1,500,000.00
Prejudgment Interest: $ 1,313,219.18
TOTAL JUDGMENT: $6,313,219 18
Interest will accrue on the total judgment amount at a rate of 4.742% per annum. 28 U.S.C. § 1961. The Gyde Group shall recover its taxable costs on timely application to the Clerk. Fed.R.Civ.P. 54(d)(1); 28 U.S.C. 1920; L.R. 54-2. The Court will consider the Gyde Group's timely motion for attorneys' fees. Fed.R.Civ.P. 54(d)(2).
IT IS SO ORDERED.