Taking the liberty to copy BigE1960 from Ihub and
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Posted On: 05/08/2021 5:04:07 AM
Taking the liberty to copy BigE1960 from Ihub and thanks to him for his D/D!
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PLAINTIFFS’ CLAIMS AND THE COURT’S FINDINGS
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10. Quantum breached its covenants regarding representations
and warranties as to the lack of variable priced securities.
Quantum agreed that it would be a default event, breaching the contracts, if it made any false or misleading representations or warranties to Plaintiffs that it had no variable priced securities when, according to the Plaintiffs, it did. There is no tort claim in this case. It is not a case of fraud, but a claimed breach of the contract. In the breach, Plaintiffs must show that they have sustained some damage, loss, harm, or injury as a consequence or direct result of that breach. Other than claims for liquidated damages which amount to penalty clauses they have shown no impact. They are not entitled to anything with regard to Quantum securities. So, whether they do or do not have any variable priced securities before or after the contracts were executed, there is no damage. The Court furthermore is unable to make an affirmative finding from credible or persuasive proof that this term has been breached. Thank you Big E!
$5++
Quote:
PLAINTIFFS’ CLAIMS AND THE COURT’S FINDINGS
Quote:
10. Quantum breached its covenants regarding representations
and warranties as to the lack of variable priced securities.
Quantum agreed that it would be a default event, breaching the contracts, if it made any false or misleading representations or warranties to Plaintiffs that it had no variable priced securities when, according to the Plaintiffs, it did. There is no tort claim in this case. It is not a case of fraud, but a claimed breach of the contract. In the breach, Plaintiffs must show that they have sustained some damage, loss, harm, or injury as a consequence or direct result of that breach. Other than claims for liquidated damages which amount to penalty clauses they have shown no impact. They are not entitled to anything with regard to Quantum securities. So, whether they do or do not have any variable priced securities before or after the contracts were executed, there is no damage. The Court furthermore is unable to make an affirmative finding from credible or persuasive proof that this term has been breached. Thank you Big E!
$5++
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