Securities,
Civil Litigation
Aug. 22, 2022
Trial set in dispute between Gizmo, former executives
The founder allegedly “sold Gizmo stock to his friends and others under the guise they were purchasing his personal shares … [and] told Gizmo’s former in-house counsel to issue ‘advisory shares’ to these individuals even though these individuals were never advisors to the company,” states the company’s complaint.
After five years of pretrial litigation before three judges, and one failed attempt to compel arbitration, a dispute between Gizmo Beverages Inc. and its former in-house lawyer and its founder and former chairman is scheduled to begin this week in Orange County Superior Court.
Brett M. Weaver, a sole practitioner in San Diego who represents Gizmo, wrote in the complaint filed in 2017 that the company is seeking to recover the nearly $2 mil...
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