Jury Awards the Founder Of NeoCell Corporation $4.985 Million Against Fatma Boukhari & Akram Quadri

Jury Awards the Founder Of NeoCell Corporation $4.985 Million Against Fatma Boukhari & Akram Quadri for Breach of Fiduciary Duty and Conversion
 
 
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Food Supplements

Industry:
Health

Location:
Riverside - California - US

RIVERSIDE, Calif. - March 2, 2016 - PRLog -- After years of litigation, Ahmad Alkayali, founder of Neocell Corporation, has obtained a judgment against the directors and officers of Neocell Corporation (“Neocell”) Fatma Boukhari, Akram Quadri, Sarah Quadri and Dr. Michael Nassar in the amount of $4.985 million for breaches of fiduciary duty and conversion surrounding their dissolution of the manufacturing arm of Neocell Corporation, Healthwise Nutraceuticals, Inc (“Healthwise”).  On February 20, 2016, the Riverside Superior Court entered judgment in the matter of Alkayali v. Boukhari, et. al. (Case No. RIC 1309291) for $4.985 million in favor of Mr. Alkayali against Fatma Boukhari, Akram Quadri, Sarah Quadri, Dr. Michael Nassar and Neocell Corporation . In addition to the award of compensatory damages, the jury found that all defendants acted with Malice, Fraud and Oppression.

Background: In 2005, Alkayali & Quadri opened Healthwise facility to manufacture NeoCell products. Healthwise ownership was eventually divided 72% Alkayali, 14% Quadri, and 14% Boukhari. In 2008, NeoCell rented the building next to HWN and shared the facility under one roof.

In prior litigation regarding the ownership of Neocell, a judge issued a permanent court order prohibiting Alkayali from entering NeoCell or HWN, which was located next door and also prohibiting Alkayali from contacting employees and customers.

In the following years, Alkayali was forced to file for bankruptcy protection.

In September 2013, Alkayali sued The Quadris and NeoCell for the ownership of HealthWise. After 3 weeks of trial, the jury found the Quadri and all defendants’ guilty of breach of fiduciary duties and conversion of assets.  Mr. Alkayali was pleased with the result, commenting  that “there is no substitute for the truth, honesty and integrity.  I am pleased that the jury found that the Defendants acted with Malice, Fraud and Oppression in their treatment of me.”

The case was litigated by Harvard trained trial lawyer Robert Tauler, Esq., of Tauler-Smith, LLP, based in Los Angeles, California.  (310) 590-3927

Contact:
Ahmad Alkayali, Inventor
P. O. Box 1237
Pauma Valley, California 92061 - USA
Telephone: (949) 813-2306
Email: fivecontinent@verizon.net

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Tags:Food Supplements
Industry:Health
Location:Riverside - California - United States
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