Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.

Genomatica, Inc v. Icelandic Genomic Ventures

January 31, 2013

GENOMATICA, INC.,
PLAINTIFF,
v.
ICELANDIC GENOMIC VENTURES
HOLDING, S.A.R.L. ET AL.,
DEFENDANTS,



The opinion of the court was delivered by: Hon. Gonzalo P. CURIELUnited States District Judge

ORDER: (1) GRANTING IN PART AND DENYING IN PART MOTION FOR DEFAULT JUDGMENT; (2) DENYING AS MOOT EX PARTE MOTION FOR RIGHT TO ATTACH ORDER AND FOR WRIT OF AND RELATED COUNTERCLAIMS AND ATTACHMENT CROSS-CLAIMS. (ECF NOS. 34, 48)

BACKGROUND

I. Procedural History

This is an interpleader action in which Genomatica, Inc. ("Genomatica") asserts it is an innocent stakeholder in a dispute over the ownership of certain shares of its stock. (ECF No. 1.) In its Complaint, Genomatica alleges a dispute has arisen between Iceland Genomic Ventures Holding S.a.R.L. ("IGVH")*fn1 , on the one hand, and Iceland Genomic Partners ("IGP"), on the other hand. (Id.)

On May 22, 2012, IGVH filed an answer to Genomatica's Complaint, also asserting counterclaims against Genomatica and cross-claims against IGP, Tryggvi Petursson ("Petursson"), and Iceland Genomic Venture Partners, S.A. ("IGVP") (all three collectively, "Petursson Defendants"). (ECF No. 7.)

On July 10, 2012, IGP filed an answer to Genomatica's Complaint. (ECF No. 18.)

On September 17, 2012, the Peturrson Defendants filed a joint motion for an extension of time to respond to IGVH's cross-claims, which Judge Lorenz granted on September 18, 2012. (ECF Nos. 32, 33.)

On September 25, 2012, IGVH filed an ex parte motion for a right to attach order and writ of attachment, seeking to attach the Petursson Defendants' assets. (ECF No. 34.) While Genomatica filed a notice of non-opposition to IGVH's Ex Parte Motion, (ECF No. 39), the Petursson Defendants filed no response to IGVH's Ex Parte Motion. What's more, the Petursson Defendants filed no response to IGVH's cross-claims. Thus, at the request of IGVH, the Clerk of Court entered a default as to each of the Petursson Defendants on October 3, 2012, (ECF No. 41), and, on November 9, 2012, IGVH moved for entry of default judgment, (ECF No. 48).

II. Factual Background

A. IGVH's Cross-claims Against Peturrson Defendants

IGVH asserts three "cross-claims" against the Peturrson Defendants, including claims for (1) fraudulent misrepresentation, (2) conversion/trover, and (3) interference with prospective business. (ECF No. 7 at 18-22.) The claims relate to two transactions: the Genomatica Transaction and the GT Life-Intrexon Merger Transaction.

1. Genomatica Transaction

IGVH alleges that, from 2001 through 2002, it invested a total of $3,500,000 in Genomatica in exchange for shares, options, and warrants. IGVH alleges that, in 2011, Genomatica prepared for a public offering and, in doing so, filed forms with the SEC listing "Iceland Genomic Ventures, S.A." as a shareholder and Peturrson as the person with sole voting and investment power with respect to the shares held by "Iceland Genomic Ventures, S.A."

IGVH alleges that on December 7, 2011, Petursson informed Genomatica and its attorneys that IGVH would be dissolving and that Genomatica should transfer IGVH's Genomatica shares to IGVH's parent company, Genomic Holding, SA ("Genomic") and to Petursson's own company, IGP. IGVH alleges Genomatica issued new stock certificates because Peturrson told Genomatica the original stock certificates were lost, even though what appears to have really happened is that Peturrson attempted to obtain the certificates from the bank where the original certificates were being held but was not permitted to do so because he was not a director of IGVH.

Accordingly, Genomatica now claims to have transferred 460,417 shares of IGVH's Genomatica stock to IGP and 3,100,000 shares of IGVH's Genomatica ...


Buy This Entire Record For $7.95

Download the entire decision to receive the complete text, official citation,
docket number, dissents and concurrences, and footnotes for this case.

Learn more about what you receive with purchase of this case.