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...
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