LaRocca v. LMR Partners CA2/8
Plaintiff Laura LaRocca co-founded the cosmetics company DuWop, LLC in 1999. In 2008, she sold her entire interest in DuWop to defendant Harry Haralambus’s company, LMR Partners, Inc. (fka Lambus Partners, Inc.) (LMR), for $1 million. LMR also agreed to remove LaRocca as a guarantor of DuWop’s bank loans and repay LaRocca’s personal loans to DuWop.
LMR ultimately paid LaRocca only $500,000 and did not remove her as a guarantor or repay her loans to DuWop. LaRocca sued LMR for breach of its agreements, and DuWop for failure to pay back her loans. After a nonjury trial, the trial court entered judgment in her favor in the amount of $1,214,757.95 and held that LMR and DuWop were alter egos of Haralambus.
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