Litigation Snapshot For 2016

Victory Before the American Arbitration Association in New York City, July 8, 2016. Rein F. Krammer and  David J. Stein capped off nearly two years of tireless effort on behalf of an optical development company with a week-long arbitration hearing in New York City. Masuda Funai's client alleged breach of a complex supply agreement with its purchaser of optical lenses after the purchaser improperly terminated the agreement "for cause" in an effort to avoid paying monies due under the agreement. The opposing party refused to make any significant settlement offer in advance of the hearing, confident in its legal position. In a lengthy final award, the arbitrators awarded nearly $4,000,000 to Masuda Funai's client, finding that the purchaser improperly withheld monies due under the contract and granting attorneys' fees and costs.