Marquee loses $160 million lawsuit????

[kp3205]

Should have paid security that $50 tip I guess......lol

http://pacevegas.com/2017/04/man-win...club-security/

[ponch62]

Wow, thats a big chunk of change for them, wonder how that effects them moving forward. I am betting that's close to double what they GROSS yearly, nevermind how much they actually profit. I assume there will be an appeal that drags it out a bit, but that is an insane number.

[MikeK32]

Here's some more information.

https://www.reviewjournal.com/crime/...-160m-verdict/

Looks like that verdict isn't going to end up being fulfilled and they settled for an undisclosed amount.

"Lee Roberts, an attorney for Marquee, told jurors the compensatory award handed down Wednesday would have “financially annihilated” the company. He said the nightclub had since installed a security camera system that would preserve footage in areas where the attack occurred."

[GordonBombay]

I would love to see their current insurance rates compared to what they will be ha

[artedm]

probably one of the biggest payouts ever in Vegas!
maybe security will learn a lesson
from reading the stories online
He was asking for $640 million!

Jurors decided that the defendants should pay David Moradi $160.5 million for an attack at Marquee nightclub. Here’s a breakdown of the jury’s award:
Past loss of earnings: $23 million.
Future loss of earnings: $79.5 million.
Past pain and suffering: $20 million.
Future pain and suffering: $38 million.

then in the midst of deliberations on punitive damages which was going to add another $49million to $483million they settled.
So he probably got $200 million.

Maybe this is why Marquee partnered with Madison square garden.

http://blogs.findlaw.com/injured/201...i-lawsuit.html
https://www.reviewjournal.com/local/...-160m-verdict/

[kp3205]

Funny thing also is David Moradi was the founder of the hedge fund company he worked for and was on the board of a pharmaceutical company KaloBios before the CEO got busted for SEC violations.

Past loss earnings....dude never made more $1 million annually and in an article 11/21/16 Moradi's hedge fund failed.

"There is ample evidence that the company is still alive today principally because Martin Shkreli called up the former leader of failed fund Anthion Capital, David Moradi, and the two plowed a pile of cash into the Chapter 11 KBIOQ. They then hit the wires with the press release that Shkreli was moving in and would jack the price of the Chagas disease drug up by heart-breaking numbers, possibly stranding thousands of patients with no ability to continue to gain access to the necessary drug. However, while the bet paid off and the shorts were destroyed in the squeeze, Shkreli was quickly headed to house arrest to await trial for defrauding investors in his previous company, where he took in new investor funds and used it pay personal debts of hundreds of millions of dollars from a still-prior defrauding of previous investors at his first company. It’s a sordid tale, and Shkreli will likely pay a price."

Interesting to say the least.

Here's a great article explaining all of the shadiness. Crazy to say the least.

https://smithonstocks.com/kalobios-t...ch-this-stock/