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Gotham Insurance Company v. Shasta Technologies, LLC, 5:13-cv-03810 BLF. (2016)

Court: District Court, N.D. California Number: infdco20161014d01 Visitors: 5
Filed: Oct. 13, 2016
Latest Update: Oct. 13, 2016
Summary: STIPULATED SETTLEMENT AND [PROPOSED] ORDER BETH LABSON FREEMAN , District Judge . Defendants and Cross-Defendants Shasta Technologies, LLC ("Shasta"), Calvin A. Knickerbocker, Jr., and Calvin A. Knickerbocker, III, together with Defendants Decision Diagnostics Corp., formerly known as InstaCare Corp., and PharmaTech Solutions, Inc. (Decision Diagnostics Corp. and PharmaTech Solutions, Inc. together, "PharmaTech," and all of the above collectively, the "Parties") state as follows: WHE
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STIPULATED SETTLEMENT AND [PROPOSED] ORDER

Defendants and Cross-Defendants Shasta Technologies, LLC ("Shasta"), Calvin A. Knickerbocker, Jr., and Calvin A. Knickerbocker, III, together with Defendants Decision Diagnostics Corp., formerly known as InstaCare Corp., and PharmaTech Solutions, Inc. (Decision Diagnostics Corp. and PharmaTech Solutions, Inc. together, "PharmaTech," and all of the above collectively, the "Parties") state as follows:

WHEREAS, Plaintiff in Interpleader Gotham Insurance Company ("Gotham") filed an original complaint in interpleader on August 16, 2013, against Shasta and PharmaTech, concerning the rights of Shasta and PharmaTech to proceeds of $578,733.58 under an intellectual property defense reimbursement insurance policy issued by Gotham to Shasta;

WHEREAS, Gotham filed a First Amended Complaint on August 5, 2014, against Shasta and PharmaTech and alleging additional claims against Calvin A. Knickerbocker, Jr. and Calvin A. Knickerbocker, III;

WHEREAS, PharmaTech filed a cross-claim on August 5, 2014 against Shasta, Calvin A. Knickerbocker, Jr. and Calvin A. Knickerbocker, III;

WHEREAS, all claims between Gotham, Shasta and the Knickerbockers were dismissed, except for Gotham's interpleader and declaratory relief claims as against both Shasta and PharmaTech, and Gotham was dismissed from the action, pursuant to this Court's Order dated February 4, 2015;

WHEREAS, the disputed proceeds of $578,733.58 have been deposited with this Court;

WHEREAS, the Parties attended a settlement conference in this matter held on August 23, 2016, in front of Magistrate Judge Joseph C. Spero; and

WHEREAS, the Parties have reached agreement on the terms of a settlement, the terms of which are set forth in this Stipulated Settlement, that they consider to be a just, fair, adequate and equitable resolution of the issues in this case;

NOW, THEREFORE, THE PARTIES STIPULATE AS FOLLOWS:

1. That the Court enter an order disbursing the funds deposited by Gotham with the Court in this interpleader action as follows: the amount of $201,500.00 shall be paid to the client trust account of Baer & Troff LLP, to be held in trust for PharmaTech; and the balance of the interpleaded proceeds (approximately $377,233.58) shall be paid to the client trust account of Ogloza Fortney LLP, to be held in trust for Shasta.

2. This case shall be dismissed in its entirety with prejudice, with each side to bear its own costs.

3. Neither Shasta nor Calvin Knickerbocker, Jr. shall have any contact, directly or indirectly, with any persons known by them to be shareholders of PharmaTech Solutions, Inc. or Decision Diagnostics Corp., other than Keith Berman.

4. Shasta and Calvin Knickerbocker, Jr. agree that they shall not contact the United States Food and Drug Administration with regard to the GenStrip or related diagnostic blood glucose test strip products during the pendency of that certain action captioned PharmaTech Solutions, Inc. v. Shasta Technologies, LLC, Case No. 56-2015-00466606-CU-BC-VTA, Superior Court for the County of Ventura.

[PROPOSED] ORDER

PURSUANT TO STIPULATION, IT IS ORDERED that the settlement terms set forth in the Parties' Stipulated Settlement above are hereby incorporated into this Order;

IT IS FURTHER ORDERED that the amount of $201,500.00 shall be paid by the Clerk of this Court to the client trust account of Baer & Troff LLP, to be held in trust for PharmaTech;

IT IS FURTHER ORDERED that the balance of the interpleaded proceeds (approximately $377,233.58) shall be paid to the client trust account of Ogloza Fortney LLP, to be held in trust for Shasta;

IT IS FURTHER ORDERED that this Court shall have continuing jurisdiction to enforce this Order and the terms of the Parties' settlement herein;

IT IS FURTHER ORDERED that this case is DISMISSED WITH PREJUDICE, with each side to bear its own costs.

Source:  Leagle

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