Farndale Co., LLC v. Gibellini

LEVINSON, Judge.

Defendants appeal from judgment entered against them for breach of their fiduciary duty to plaintiffs. We affirm.

The parties have a history of commercial and personal relationships for over fifty years, which is summarized as follows: Accuma, S.p.A. (“Accuma Italy”) is an Italian corporation, founded in the early 1960’s, that makes and sells battery parts. Accuma Italy’s founders included defendant Folco Gibellini (Gibellini), who owns a controlling interest in the firm, and Sergio Pezzotti, who owns plaintiff VAL Participations (VAL). As Accuma Italy prospered, it expanded to…