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Opening Statement

Opening Statement. Claire Maglica v. Anthony Maglica Superior Court of Orange County, CA June 1993. Reason For Lawsuit. Recovery of equity in Mag Instrument, Inc . Tony and Claire Maglica and promised the fruits of their relationship would be equal property

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Opening Statement

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Presentation Transcript

  1. Opening Statement Claire Maglica v. Anthony Maglica Superior Court of Orange County, CA June 1993

  2. Reason For Lawsuit • Recovery of equity in Mag Instrument, Inc. • Tony and Claire Maglica and promised the fruits of their relationship would be equal property • Claire worked with Tony side by side at Mag Instrument, Inc. for over twenty years • Due to Claire and Tony’s combined efforts, Mag Instrument, Inc. is now worth over $300 Million

  3. Undisputed Facts

  4. Undisputed Facts

  5. Undisputed Facts Claire’s idea for a multi-colored flashlight that would fit in a purse or pocket turned into a product line spanning more than a decade and with over fifteen models.

  6. Undisputed Facts

  7. Claire Maglica Testimony

  8. Tony Maglica Testimony

  9. Conclusion • Claire and Tony Maglica had a verbal contract sharing ownership of the proceeds of their 20 years of labor • Claire directly impacted profits of the company and was not paid the “reasonable value of services”

  10. Conclusion • Tony was fraudulent in attaining Claire’s signature on the Separate Property Agreement • Tony had a fiduciary duty to act to benefit the owners of Mag Instruments • Tony breached his fiduciary duty by transferring stock without Claire’s knowledge

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