A trial team from Gordinier Kang & Kim, LLP (“GKK”) led by partner Edward S. Kim, with the assistance of associate Bradley S. Song and Nevada counsel Craig D. Slater of Luh & Associates, secured a jury verdict awarding plaintiffs $167 million, including $10 million in punitive damages, against former officers and directors of CAM Group, Inc. in a cross-border shareholder derivative lawsuit.
In Capital Advisors et al. v. Parko Ltd. et al., Plaintiffs asserted shareholder derivative claims against former officers and directors of CAM Group, Inc., for breaching their fiduciary duties and engaging in self-interested transactions that drained the Company’s cash holdings and diverted the Company’s business opportunities to a Hong Kong entity controlled by defendants.
Following a three-week jury trial, GKK obtained a jury verdict holding the directors and officers of CAM Group Inc. liable for a breach of fiduciary duty, usurpation of corporate opportunities, corporate waste, civil conspiracy, and unjust enrichment. The jury awarded Plaintiffs compensatory damages of $120 million and punitive damages of $10 million against the defendants. The jury verdict followed five-and-a-half years of litigation pursued by plaintiffs to restore value to the Company and bring relief to CAM Group, Inc. and its shareholders.