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INTELLIGENT DIGITAL SYSTEMS, LLC v. VISUAL MANAGEMENT SYSTEMS, INC.

No. CV 09-974.

736 F.Supp.2d 596 (2010)

INTELLIGENT DIGITAL SYSTEMS, LLC, Russ & Russ PC Defined Benefit Pension Plan and Jay Edmond Russ, Plaintiffs, v. VISUAL MANAGEMENT SYSTEMS, INC. Jason Gonzalez, Howard Herman, Robert Moe, Michael Ryan, Col. Jack Jacobs, Ret., and Marty McFeely, Defendants.

United States District Court, E.D. New York.

August 30, 2010.

Attorney(s) appearing for the Case

Ira Levine, Esq. , Attorney for Plaintiffs,

Reed Smith LLP, by Paul E. Breene, Esq. , New York, N.Y. Attorneys for Plaintiffs,

Certilman Balin Adler & Hyman, LLP, by Martin P. Unger, Esq. , Paul B. Sweeney, Esq. , East Meadow, N.Y, Attorneys for Defendants.

MEMORANDUM AND ORDER

WEXLER, District Judge.

This is a case that arises out of the parties' business relationship which, in general terms, involved the sale of Plaintiffs' proprietary technology and related business to the Defendant company, Visual Management Systems, Inc., ("VMS"). After VMS defaulted on its obligations pursuant to the parties' business transaction, this action was commenced. The original complaint set forth federal securities fraud...

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