October 16, 2015 – TriReme Medical moved to stay the enforcement of a $20 million judgment pending conclusion of its appeal, and additionally to waive any bond. The case involves the Chocolate catheter, a balloon stent. On October 14, 2015, Plaintiff AngioScore was awarded past and future lost profits based on its claims that the inventor of Chocolate developed the device “while serving as a member of AngioScore’s board of directors, and violated his fiduciary duties by failing to offer the rights to Chocolate to AngioScore.” The court further found TriReme liable because it “aided and abetted [the inventor’s] breach.”
TriReme argues that a stay of enforcement is warranted because “allowing AngioScore to immediately enforce the judgment would so interfere with [its] business or so jeopardize the collectability of other creditor’s claims as to throw the company into bankruptcy.”
The motion is currently before the United States District Court for the Northern District of California, and the case is captioned Angioscore, Inc. v. Trireme Medical, Inc. et al, 4:12-cv-03390.
By: Katherine E. Adams