Acquvest resolves securities litigation
Clients Acquvest, Inc.
Jones Day represented Acquvest, Inc. in this multi-million dollar securities litigation related to the validity of subscription agreements and shareholder rights. Jones Day successfully obtained $2.5 million writ of attachment in favor of Acquvest. On the eve of trial, Composite filed for bankruptcy. Jones Day successfully moved the case into the United States Bankruptcy Court to have the automatic stay lifted and the case remanded to the California state trial court for trial on the merits. Thereafter, the parties negotiated a mutually agreeable settlement.
Composite Technology Corp. v. Acquvest, Inc., et al.