Santa Clara County Superior Court Grants Bergeson, LLP's Application For Temporary Restraining Order And Preliminary Injunction

On February 7, 2011, following its grant of a temporary restraining order, the Santa Clara County Superior Court entered a preliminary injunction enjoining a Director and former President/CEO of a technology company, as well as a newly formed entity founded by that Director and former President/CEO, from transferring or encumbering ownership rights to intellectual property that was at the heart of the litigation pending trial. The parties reached a settlement of their disputes in which the Director and former President/CEO agreed to pay the technology company or its assigns $900,000 and further agreed to surrender her ownership interest in, and resign all positions she ever held with the Company. The technology company, in turn, agreed to surrender all interest in the intellectual property at issue in the litigation. Daniel J. Bergeson and Grace Y. Park represented the Chairman of the Board of Directors of the Company and a Preferred Shareholder, in the action.