Baldwin Mader Law Group Wins $6.1 Million Arbitration Award Against Fisker, Inc.
Manhattan Beach, California Boutique Securities Litigation Firm, Baldwin Mader Law Group, won a $6.1 Million Arbitration Award against EV Start-up, Fisker, Inc. on behalf of its client, Dr. Fabio Albano.
MANHATTAN BEACH, Calif., March 16, 2023 (Newswire.com) - Dr. Albano is renowned in the field of solid-state batteries, and was among the first employees hired at Fisker, Inc., an electric vehicle ("EV") start-up based in Manhattan Beach, California. In addition to working as the company's Vice President of Battery Systems, Dr. Albano sold his solid-state battery patent to Fisker, Inc. in exchange for shares of the company. When Dr. Albano voluntarily resigned from Fisker, Inc., the company claimed that he had forfeited his shares.
The matter was arbitrated at the American Arbitration Association ("AAA") before Arbitrator Hon. James A. Steele (Ret.), who issued a 54 Page Arbitration Award in Dr. Albano's favor. The Arbitration Award was confirmed by Hon. Gary Y. Tanaka of the California Superior Court, Los Angeles County (Case No. 20TRCV00731) on February 2, 2023. Dr. Albano was represented by Patrick Baldwin, Esq. and Christopher Mader, Esq. of Baldwin Mader Law Group, a boutique securities litigation firm located in Manhattan Beach, California. Fisker, Inc. was represented by Orrick, Herrington & Sutcliffe.
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Baldwin Mader Law Group is a boutique Securities Litigation firm based in Manhattan Beach, California. Patrick Baldwin, Esq. has specialized in securities and investment fraud for over 42 years. He was an attorney at the Securities and Exchange Commission in Washington D.C. (Market Regulation and Corporation Finance), and has represented thousands of defrauded investors in virtually every type of securities case. Christopher Mader, Esq. has been a litigator for 25 years, specializing exclusively in securities litigation since 2005. He was formerly a FINRA licensed registered representative at a leading investment firm.
Source: Baldwin Mader Law Group
Categories: Financial News
Tags: Arbitration, EV, Fisker, Start-up