$7M Fraud Award Can't Be Divvied Up On Fault: Judge

By Christopher Norton

Law360, New York (February 01, 2010, 6:59 PM ET) -- An allocation of fault arising from an arbitration award must happen in the arbitration itself, a Delaware judge has ruled in a dispute over how payment of an arbitration panel’s $7 million damage award for fraud should be allocated among two venture capital funds and another firm that were found jointly and severally liable for those damages.

Vice Chancellor Donald F. Parsons Jr. of the Delaware Chancery Court on Friday dismissed the cross-claims for contribution filed by Olympus Growth Fund III LP and Olympus Executive Fund...
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