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FLAA v. MONTANO

Civil Action No. 9146-VCG.

MICKAEL A. FLAA, Plaintiff, v. DANIEL C. MONTANO, VIKTORIYA T. MONTANO, JOHN W. JACOBS, ERNEST C. MONTANO, ERNEST MONTANO III and JOONG KI BAIK, Defendants, and CARDIOVASCULAR BIOTHERAPEUTICS, INC., Nominal Defendant.

Court of Chancery of Delaware.

Decided: May 29, 2014.

Attorney(s) appearing for the Case

Richard P. Rollo, of Richards, Layton & Finger, P.A., Wilmington, Delaware; OF COUNSEL: Barry F. Cannaday, of Dentons US LLP, Dallas, Texas, Attorneys for the Plaintiff.

David L. Finger, of Finger & Slanina, LLC, Wilmington, Delaware, Attorney for the Defendants.

MEMORANDUM OPINION

GLASSCOCK, Vice Chancellor.

This Memorandum Opinion concerns the latest skirmish in the battle for control of CardioVascular BioTherapeutics, Inc. ("Cardio," or the "Company"), between forces allied with its founder, Daniel Montano, and those supporting a large creditor of Cardio, Calvin Wallen. Although Cardio has not yet been able to monetize any product, both parties view the Company as on the cusp of success...

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