The plaintiff in this breach of contract matter was hired as an executive at a real estate investment firm, where he worked for several years. As a part of his employment agreement, he was required to purchase interest in a commercial real estate fund controlled by his employer, the defendant in this suit. Per the investment terms, the defendant was required to repurchase the fund interest should it reach certain performance milestones. When that occurred, the defendant allegedly did not fulfill his financial obligations. The plaintiff claimed he was owed a multi-million dollar return including penalties and interest under the terms of his investment.
The plaintiff required capital for multiple purposes. LexShares’ expedient $500,000 investment funded operating expenses for a new business venture, helped pay off hourly legal fee arrears which had begun to accrue and was available to cover future legal fees as discovery proceeded. LexShares litigation funding was able to satisfy all of these critical capital needs for the plaintiff.