Orange County Businessman Found Liable for Fiduciary Duty Claims in Federal Court

VALENCIA, Calif. - Aug. 9, 2017 - PRLog -- UCI Trustee and Laguna Beach businessman, Bruce Cahill, has been found liable for claims brought against him by a shareholder in Cahill's former company, Paul Edalat.

Mr. Cahill, the former of CEO and President of now defunct Irvine manufacturing company Pharma Pak, Inc. has been involved in tense litigation with shareholder Mr. Edalat and a former employee of the company, Olivia Karpinski. The suit, brought in United States District Court for the Central District of California, Santa Ana division, is case number 8:16-cv-00686-AG-DFM. August 8, 2017 marked the last day of jury deliberations.

Mr. Cahill and his fellow cross-defendants first sued Mr. Edalat and Ms. Karpinski for RICO and securities fraud, claims they later dropped in the final days of trial.

By unanimous vote, the jury has awarded judgment against Mr. Cahill for his breach of fiduciary duty in the unapproved transfer of assets from Pharma Pak, Inc. to his new entity Life Tech Global, LLC.

In the 7-day jury trial in front of the Honarable Judge Andrew Guilford, evidence was presented showing that Cahill, along with his partners Greg Cullen, Ron Franco, and Shane Scott, transferred Pharma Pak, Inc. assets to their new company Life Tech Global, after firing employees and shuttering Pharma Pak. These assets, including valuable patents and equipment, were quickly transferred to Mr. Cullen and Mr. Cahill's new company without a majority approval of Pharma Pak shareholders.

Speaking after the verdict was announced, Edalat's attorney Mr. Saied Kashani stated, "We are pleased that the jury recognized that Mr. Bruce Cahill breached his fiduciary duties to his shareholder Paul Edalat."

Mr. Edalat was represented by Mr. Saied Kashani of Los Angeles, California. Mr. Kashani holds degrees Magna Cum Laude in Chemistry, Economics, and Law from Harvard University and Harvard Law School and has practiced with preeminent California and Wall Street firms.