LAS VEGAS (CN) — Founders of a Nevada stem cell research firm skimmed money from the $110 million they raised to develop treatments for Alzheimer’s disease, a member of the company’s own board claims in court.
Tiara Holdings II LLC sued Stemedica Cell Technologies Inc. and its top three officers on April 6 in Clark County Court. The officers are CEO and Chairman of the Board Roger Howe, Vice Chairman and CEO Maynard Howe and President and Chief Medical Officer Nikolai Tankovich.
Dr. Anthony M. Marlon, a medical doctor and businessman, holds 430,000 shares of Stemedica through Tiara Holdings, where he is a member. He also is a member of the board of Stemedica, he says in the complaint.
He says Stemedica’s founders have kept Tiara and independent auditors “in the dark” about its financial records and transactions.
“Stemedica’s founders have operated a nearly 10-year investment scheme, wherein they have raised over $110 million dollars from various individual investors for the purported purpose of funding and establishing a stem cell company,” Tiara says in the lawsuit.
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The best litigation for business decision makers is the litigation that never happens. Court cases are time-consuming, expensive and take a business owner’s mind off business. The best way to avoid litigation? Document everything, know your obligations and be certain your protections are in place.
“It sounds a little simplistic, but I would say, know your legal obligations, comply with them, and most important, create documentation of your compliance,” said Lee Roberts of Weinberg, Wheeler, Hudgins, Gunn & Dial.
“Most litigation arises out of the business disputes with a party you’re doing business with, and it’s almost always about money,” said Roberts.
Step one in keeping a business out of litigation is to make certain the rights and obligations of both sides of a deal are documented. Whether with a formal contract created by a lawyer or a memo of understanding, or even a letter sent to the other side, it’s important there be some form of written documentation.
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LAS VEGAS – (Sep. 14, 2016) – James J. Pisanelli and Todd L. Bice, founding partners of Pisanelli Bice PLLC, announce that Brittnie T. Watkins has joined the firm as an associate attorney. Ms. Watkins will primarily practice commercial litigation.
Prior to joining Pisanelli Bice, Ms. Watkins was a judicial law clerk to Justice Michael L. Douglas of the Supreme Court of Nevada for the 2014-2016 term. During her term, Ms. Watkins assisted the Court in making precedential legal determinations in a variety of matters, including corporate and contractual, gaming, constitutional, intellectual and real property, medical malpractice, and construction defect.
While earning her juris doctor and doctorate degrees at the University of Nevada, Las Vegas (UNLV), Ms. Watkins served on the Nevada Law Journal, Boyd’s nationally recognized Thurgood Marshall Mock Trial Competition team, and as a member of the Frederick Douglass Moot Court Competition team. Ms. Watkins also served as a public interest fellow and graduate research and teaching assistant. Ms. Watkins gained experiential learning as a student attorney in the Family Justice Clinic, legal extern for the Children’s Attorney Project of the Legal Aid Center of Southern Nevada, and law clerk for the Office of the Clark County Public Defender. Amid extra-curricular activities, Ms. Watkins achieved a top 30% ranking and Dean’s List honors. Upon graduation, Ms. Watkins received the Barbara Buckley Community Service Award and the Roosevelt Fitzgerald Award for Outstanding Scholarship and Leadership. Ms. Watkins’ dissertation focusing on courtroom stress in witnesses was recently bestowed the Outstanding Dissertation of the Year Award.
Ms. Watkins received two bachelor’s degrees in criminal justice, with high honor, and psychology, with honor from Michigan State University. She also received her master’s degree in criminal justice from the University of Nevada, Las Vegas.
About Pisanelli Bice
Pisanelli Bice is a Las Vegas-based firm focused primarily on commercial litigation. The firm, founded by attorneys James J. Pisanelli and Todd L. Bice, represents clients ranging from single entity developers and entrepreneurs to Fortune 500 companies, municipalities, public agencies as well as some of Nevada’s largest gaming companies. For more information, please visit pisanellibice.com.
The founding partners of Pisanelli Bice PLLC, James J. Pisanelli and Todd L. Bice, announced that the boutique law firm has been named among the best litigation firms in the country by Chambers and Partners. In addition, Bice has been selected Las Vegas Lawyer of the Year in the Litigation-Land Use and Zoning category by the Best Lawyers in America rating service, based on attorneys’ peer reviews.
Chambers and Partners ranks attorneys and firms based on interviews with their clients and legal colleagues. Pisanelli Bice is one of only three Nevada firms honored in Band 1 of the Chambers USA 2016 guide for General Commercial Litigation. The firm, which has represented Caesars Entertainment, Bally Technologies, MGM Resorts, City National Bank and Wynn Resorts, rose from Band 2 in 2015 to Band 1 distinction this year based on its handling of pre-trial negotiations, documentation and preparation for trial, summary judgment motions, trial, appeals and commercial enforcement proceedings in state, circuit and federal courts.
Bice achieved the highest rating in this year’s Litigation-Land Use and Zoning category for his familiarity and skill in handling the complex litigation surrounding public and private construction and development. Attorneys listed in Best Lawyers in America are voted into practice areas as a result of the votes they receive from their peers. Best Lawyers assigns the subspecialties based on analysis of information from a variety of sources.
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James J. Pisanelli and Todd L. Bice, founding partners of the litigation firm Pisanelli Bice PLLC, were recently selected by their legal peers for inclusion in Best Lawyers in America 2017, a nationwide peer-review publication.
Managing Partner Debra L. Spinelli was also selected for the fourth consecutive year by her peers for inclusion in the publication.
Best Lawyers listed Pisanelli in the category for commercial litigation, a primary focus of the law firm. The publication also listed him in four additional legal categories, including bet-the-company litigation, construction law, litigation – construction and litigation – real estate.
The publication listed Bice for the third consecutive year in the appellate practice category. The publication also listed Bice in four other legal categories, including commercial litigation, litigation – first amendment, litigation – land use and zoning and litigation – mergers and acquisitions.
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