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Hanson Bridgett LLP 

March, 2021 - San Francisco, California

 

 

Hanson Bridgett Prevails in Multi-Million Dollar Zoom Arbitration

 

March 23, 2021 (San Francisco, CA) – Hanson Bridgett LLP, a preeminent California law firm providing quality legal services throughout the state and nationwide, secured a virtual victory for one of their technology clients. After a week-long arbitration that took place over Zoom, lead counsel Brian Schnarr obtained a complete victory for his clients, the former shareholders of a SaaS technology company called Lightning Bolt Solutions, Inc. The dispute followed a high-profile acquisition by a California private equity firm and involved the payment of monies owed to the sellers under the "Holdback" and "Earnout" provisions of the agreement.

Under JAMS Streamlined procedures, Brian and his team worked to build the case within six months. After the close of evidence, the Arbitrator issued an award in favor of Hanson Bridgett's client for $11.1 million, the total value of the claim prosecuted. Brian and his team also obtained a complete defense of the $5.9 million counterclaims that were asserted against the former shareholders. An additional $950,000 was also recovered in prevailing party attorneys' fees, costs, and prejudgment interest from the opponents for a total cash recovery exceeding $12 million.

"This excellent outcome was possible because of the strong team of attorneys who were behind the effort. They were a major asset helping get us up to speed in the short timeline," Schnarr said. "I am tremendously proud of the result we were able to achieve for our client."

The litigation effort was supported by Heather MichelMatt Fisher, Natalie Wilson, Walt Binswanger, and Hank Brier.


 

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