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AMN TELEVISION MARKETING v. PARAMOUNT TRADING

November 7, 2005.

AMN TELEVISION MARKETING, a California business trust, Plaintiff,
v.
PARAMOUNT TRADING, INC., a Costa Rican corporation,; NORTH COUNTY PHARMACEUTICALS, LLC, a Minnesota limited liability company; JOSEPH WHITNEY, and individual; and JEFFREY PINK, an individual, Defendants.



The opinion of the court was delivered by: DANA SABRAW, District Judge

STIPULATION TO DISMISS ACTION WITH PREJUDICE

Plaintiff AMN TELEVISION MARKETING ("Plaintiff") and Defendants, PARAMOUNT TRADING, INC., NORTH COUNTRY PHARMACEUTICALS, LLC, JOSEPH WHITNEY and JEFFREY PINK, ("Defendants") hereby stipulate as follows:

  1. On September 29, 2005, the parties participated in a mandatory settlement conference, and reached a settlement of this matter. A copy of the written settlement agreement is attached hereto as Exhibit "1". The settlement agreement is being executed by defendants, and has been executed by Plaintiff. 2. The parties therefore stipulate that this action may be dismissed with prejudice, with the Court retaining jurisdiction to enforce the settlement agreement, if necessary.

  IT IS SO STIPULATED.

  IT IS SO ORDERED. SETTLEMENT AGREEMENT AND MUTUAL RELEASE

  This Settlement Agreement and Mutual Release ("Agreement") is entered into and made effective as of September 29, 2005, between AMN Television Marketing, a California business trust ("AMN"), on the one hand; and Paramount Trading, Inc. ("Paramount"), North Country Pharmaceuticals, LLC (sued as North County Pharmaceuticals, LLC ("North Country"), Joseph Whitney ("Whitney") and Jeffrey Pink ("Pink"), collectively referred to herein as "Paramount Parties", on the other hand. The parties entering into the Agreement sometimes are referred to individually as "Party" or together as the "Parties."

  RECITALS

  A. AMN was retained by Paramount to provide services relating to television marketing. AMN provided those services, but was not paid for all of the services provided. AMN filed a lawsuit in United States District Court for the Southern District of California, entitled AMN v. Paramount Trading, Inc., et al., USDC Case No. 04 CV 1619 DMS (the "Action").

  B. It is the intention of the Parties to resolve fully, completely and finally, all disputes, litigation, matters, claims and causes of action among and between them, including, without limitation, those arising from or relating to the services provided by AMN to Paramount and any and all claims which were raised, or which could have been raised in the Action, so that a final, complete settlement is reached between the Parties on the terms and conditions, and in exchange for the consideration described below.

  AGREEMENT

  NOW THEREFORE, the parties hereto acknowledge the foregoing recitals, and each of them, as true and in consideration of the mutual promises, covenants and terms contained herein and for other valuable consideration, the Parties agree as follows:

  1. Settlement Payment to AMN. The Paramount Parties shall pay to AMN the sum of $15,000 (Fifteen Thousand Hundred dollars, the "Settlement Amount"). Payment shall be made within two weeks of the execution by all parties of this Agreement. The Paramount Parties also agree to waive any claim for monetary sanctions arising out of the Action.

  2. Dismissal of the Action. Upon confirmation of receipt of good funds in the Settlement Amount, and receipt of a copy of this Agreement executed by all Parties, AMN shall cause its attorneys to dismiss the Action with prejudice, and to provide counsel for the Paramount Parties with a conformed copy of the entered dismissal forthwith. 3. Full Mutual Release Provisions.

  3.1 Release by AMN. In consideration of the releases given in paragraph 3.2 and the other consideration provided under this Agreement, and excluding the rights, duties, and obligations created by or arising under this Agreement, AMN, for itself and for all of its shareholders, owners, officers, directors, employees, predecessors and assigns, does hereby forever release and discharge the Paramount Parties, and each of them, together with each and all of their officers, directors, shareholders, members, partners, agents, servants, employees, attorneys, insurers, predecessors, successors, assigns and assignors, heirs, legalities, devisees, executors, administrators, subsidiaries, affiliates, and affiliated entities of any kind, jointly and severally, from any and all claims, demands, controversies, actions, causes of action, obligations, liabilities, costs, expenses, attorney fees and damages of whatsoever character, nature and kind, in law or in equity, past or present, known and unknown, suspected or unsuspected, existing at any time prior to the date of this Agreement, or arising out of or related to any transactions, conditions, occurrences, acts, ...


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