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GENTILE v. ROSSETTE

C.A. No. 20213-VCN.

Gentile, v. Rossette.

Court of Chancery of Delaware.

Decided: September 10, 2010.

Attorney(s) appearing for the Case

Robert J. Katzenstein, Esquire, David A. Jenkins, Esquire, Smith Katzenstein & Furlow LLP, 800 Delaware Avenue, Suite 1000, Wilmington, DE 19801.

John L. Reed, Esquire, Edwards Angell Palmer & Dodge LLP, 919 N. Market Street, #1500, Wilmington, DE 19801.

Raymond J. DiCamillo, Esquire, Richards, Layton & Finger, P.A., 920 North King Street, Wilmington, DE 19801.

JOHN W. NOBLE, Vice Chancellor.

Dear Counsel:

The Court has concluded that Defendant P. David Rossette ("Rossette") is liable for his breach of his fiduciary duties owed to the Plaintiffs in the amount of $309,000.1 That liability arose from a conversion of SinglePoint debt (the "Debt Conversion") orchestrated by Rossette that closed on March 27, 2000. Thus, as the effective date of the wrongdoing resulting in liability, March...

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