Simpson Thacher Obtains $17.2 Million Judgment in Embezzlement Lawsuit
03.24.17
This is only gets display when printing
On March 16, 2017, after nearly a year-and-a-half of litigation, the Los Angeles Superior Court entered judgment in the amount of $17.2 million against Michael Yu, the former CEO of Homefloormax, Inc., on account of his embezzlement of corporate funds and assets. The $17.2 million judgment includes $9 million in punitive damages. The judgment follows the court’s November 12, 2016 ruling granting Homefloormax’s motion for terminating sanctions based on Mr. Yu’s failure to comply with certain discovery orders. The Simpson Thacher team on this case is Chet Kronenberg, Peter Jordan and Charlie Reiter.