The Maloney Firm Secures Defense Verdict For Client Following Three-Week Jury TrialOct 31, 2022
Maloney Firm attorneys Patrick Maloney and Carl Mueller represented Cen Xu, Ph.D. in defense of claims that she breached her fiduciary duties as a corporate officer and director of a biopharma startup company when she decided to end her affiliation with the entity. The Plaintiff, GCX Innovation, Inc., claimed that as a result of Dr. Xu’s departure, it lost $10,000,000 in venture capital funding. GCX sought $10,000,000 in damages, claiming Dr. Xu’s departure caused loss of value to its business.
After three weeks of testimony, the jury deliberated for less than an hour before unanimously finding that Dr. Xu was not liable because she had not breached any fiduciary duty to GCX.
Maloney Firm founder Patrick Maloney commented “we are pleased to have secured a favorable outcome for Dr. Xu, and we are honored she had the faith in our firm to vindicate her interests at trial.”