Display MoreSome details of the initial shots fired by IH & Rossi:
https://www.law360.com/tria...
Law360, Miami (June 30, 2017, 9:57 PM EDT) -- An Italian inventor suing over an $89 million licensing agreement for an energy catalyzer patent opened trial Friday in Miami, telling jurors that the licensees had repeatedly touted the technology and said it had "potential to change the world" before reneging on the agreement.
Brian Chaiken of Perlman Bajandas Yevoli & Albright PL, who represents Italian inventor Andrea Rossi, told the jury that Rossi and his Leonardo Corp. are owed $89 million from licensees Cherokee Investment Partners LLC and related entity Industrial Heat LLC, which boasted about acquiring the technology for a low-energy nuclear reactor called the E-Cat through a 2012 agreement but failed to live up to their end of the deal."They wasted no time telling investors and potential investors that E-Cat actually works and that they were in possession of the technology," Chaiken said.
At one point, in an investment memorandum, International Heat said the future success of the company was dependent on one key individual: Rossi, according to Chaiken.
"They're (Industrial Heat ) telling their investors they've got LeBron James on their team and if they're going to the NBA Finals, they're going to ride him all the way there," he said.
But International Heat changed its tune in May 2015, he said, when it successfully sold 4 percent of the company for $50 million. After that investment, Chaiken said the narrative changed, and the company began to say that Rossi was unreliable and that the test results of his E-Cat technology were unreliable.
The case is Andrea Rossi et al. v. Thomas Darden et al., case number 1:16-cv-21199, in the U.S. District Court for the Southern District of Florida.
Display MoreSome details of the initial shots fired by IH & Rossi:
https://www.law360.com/tria...
Law360, Miami (June 30, 2017, 9:57 PM EDT) -- An Italian inventor suing over an $89 million licensing agreement for an energy catalyzer patent opened trial Friday in Miami, telling jurors that the licensees had repeatedly touted the technology and said it had "potential to change the world" before reneging on the agreement.
Brian Chaiken of Perlman Bajandas Yevoli & Albright PL, who represents Italian inventor Andrea Rossi, told the jury that Rossi and his Leonardo Corp. are owed $89 million from licensees Cherokee Investment Partners LLC and related entity Industrial Heat LLC, which boasted about acquiring the technology for a low-energy nuclear reactor called the E-Cat through a 2012 agreement but failed to live up to their end of the deal."They wasted no time telling investors and potential investors that E-Cat actually works and that they were in possession of the technology," Chaiken said.
At one point, in an investment memorandum, International Heat said the future success of the company was dependent on one key individual: Rossi, according to Chaiken.
"They're (Industrial Heat ) telling their investors they've got LeBron James on their team and if they're going to the NBA Finals, they're going to ride him all the way there," he said.
But International Heat changed its tune in May 2015, he said, when it successfully sold 4 percent of the company for $50 million. After that investment, Chaiken said the narrative changed, and the company began to say that Rossi was unreliable and that the test results of his E-Cat technology were unreliable.
The case is Andrea Rossi et al. v. Thomas Darden et al., case number 1:16-cv-21199, in the U.S. District Court for the Southern District of Florida.
A quick note to everyone: opening statements are not evidence.