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In the News

Former Tech Company Officers Cleared of Wrongdoing and Awarded Fee

As mentioned by: Law360
December 21, 2016

When California-based tech venture capital firm Silicon Valley Innovation Co. failed, a receivership sued former company officers to recover funds it said were lost due to alleged employee mismanagement and improper disbursements. After two years of trying to recover a claimed $100 million, the receivership has issued an apology to Shaun Andrikopoulos, one of those former officers, and agreed to pay a $150,000 legal fee settlement.

“In reviewing all of the available facts discovered since the filing of the California lawsuit as well as the evidence in the Andrikopoulos motion for summary judgment, SVIC has now determined that the allegations it made against Andrikopoulos lack merit,” the settlement says, “and SVIC regrets any harm caused Andrikopoulos by SVIC's allegation.”

Andrikopoulos was represented by a team that included Los Angeles Litigation partner Robert L. Wallan and senior associate Rebecca Tierney.

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