LAWSUITS NEWS & LEGAL INFORMATION
Cash Commissions
Minneapolis, MN: (Oct-22-07) J Giordano Securities Group brought a lawsuit against MedicalCV, Inc., over a dispute that stemmed from an agreement that the parties entered into in December 2004. MedicalCV, Inc. previously paid J Giordano Securities Group cash commissions of $573,000 and issued a warrant for the purchase of 114,600 shares of common stock in connection with a private placement that generated gross cash proceeds of $13,600,000 in April 2005. In the arbitration, J Giordano Securities Group claimed it was entitled to alleged damages of $3,346,565 plus reimbursement for reasonable expenses, interest, costs and attorneys' fees.
As part of a settlement, MedicalCV agreed to pay J Giordano Securities Group $750,000 in cash. The settlement was reached without admitting any wrongdoing, as the company wished to avoid the risks and costs of litigation. [YAHOO: CASH COMMISSIONS]
Published on Oct-23-07
As part of a settlement, MedicalCV agreed to pay J Giordano Securities Group $750,000 in cash. The settlement was reached without admitting any wrongdoing, as the company wished to avoid the risks and costs of litigation. [
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