In a trial in which McCarter & English acted as lead counsel, a San Mateo jury has rejected a Silicon Valley businessman’s fraud and breach of contract claims against New Jersey hardware manufacturer PNY Technologies Inc.
The jury found PNY had a right to fire Silicon Valley Solutions Inc. CEO Lorenzo Salhi after acquiring his company, because Salhi failed to perform his job duties. Salhi is not entitled to the $1 million left on his contract, jurors decided, following a seven-day trial in San Mateo County Superior Court.
The verdict is a victory for PNY lawyers Pamela Moore and Christopher Mayer of McCarter & English, as well as local counsel David Reis of Arnold & Porter.
“Gadi Cohen and PNY truly believed they didn’t do anything wrong, and this is finally vindication for them after so many years,” Moore said.