Departing Partner Used Fraud to Take Successful Business Trading Securities
March 7, 2019
A Cook County jury awarded over $2.5 million dollars to a computer software engineer who claimed his partner committed fraud and effectively stole the company. Jeff and his law firm filed the case in 2015.
The case involved a company called MW Capital. The company was started by Marler and Zachary Wulf.
MW Capital traded securities using computer software Marler created. Wulf used the software to trade securities for MW Capital.
After years of success, Wulf told Marler he wanted to get out of the business and shut down MW Capital.
Wulf’s statements were not true.
After MW Capital closed, Marler learned Wulf formed a separate company, called BOS Group, to engage in the same business.
Marler filed a lawsuit alleging claims for fraud, breach of contract, breach of fiduciary duty and violations of the Illinois Trade Secret Act, among others. Wulf filed counterclaims against Marler for breach of contract.
After a two-week trial, the jury returned verdicts for Marler and against Wulf on all claims. The jury awarded Marler $1.75 million in compensatory damages and $760,000 in punitive damages against Wulf and BOS Group.
The case was filed in the Circuit Court of Cook County Illinois and captioned as Brian Marler v. Zachary Wulf, et al., No. 15 L 1645.
Do you think you were cheated by your business partner? Contact Jeff.