$126M Judgment Affirmed In Palm Steakhouse Royalties Fight

By Nathan Hale (May 7, 2020, 9:36 PM EDT) -- A New York state appellate court on Thursday affirmed a judgment worth $126 million in favor of minority shareholders of The Palm steakhouse chain in a long-running trademark battle between descendants of the famed restaurant's founders.

The appeals panel unanimously rejected majority shareholders Bruce Bozzi Sr. and Walter "Wally" Ganzi Jr.'s argument that other family members' claims that the two men cheated them through sweetheart intellectual property licensing deals with locations the pair wholly owned were not timely.

In its five-page order, the Appellate Division's First Department also affirmed New York Supreme Court Justice Andrea Masley's decision following a November 2017...

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