DataTreasury's Disloyal Ex-Exec Loses $100M Case

Law360, New York (October 31, 2013, 5:41 PM EDT) -- A Long Island, N.Y., judge tossed a $100 million breach of contract claim filed against check-imaging patent holder DataTreasury Corp., finding Wednesday that plaintiff Michael C. Trimarco's disloyalty meant he breached a lucrative stock option agreement.

Suffolk County Supreme Court Judge Emily Pines, in an 83-page ruling that delved into the minutiae of the decade-long case, said after a lengthy trial that strong evidence of the plaintiff's misconduct meant the former chief operating officer and board member could not cash in.

“DataTreasury is extremely grateful that...
To view the full article, register now.