Ex-Sierra Technologies GC Shakes Co.'s Securities Claims

Law360, New York (July 2, 2012, 6:31 PM EDT) -- A New Jersey appeals court on Monday upheld a jury finding that a former general counsel for Sierra Technologies Inc. did not owe the company $751,000 for share purchases, saying jurors had properly considered the testimony and evidence.

However, the court also rejected a cross-appeal by the former Sierra general counsel and vice president, Thomas F. Daley, who had argued against the dismissal of his counterclaim that the aerospace electronics firm owed him $450,000 for "professional services."

"The decision wasn't unexpected,” said Michael Meltzer, who represents...
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