Gray Diversified Asset Management, Inc. v. Canellis

By Judge Jonathan C. Thacher

This matter came before the Court on Defendant’s Motion for Sanctions. After considering the pleadings, the evidence, the oral and written arguments of counsel, and the relevant legal authority, the Court grants the motion.

Background

Karen Canellis and Gray Diversified Asset Management, Inc. (Gray) were business associates, engaged in the business of providing real estate financing services. LBI, L.L.C., is a corporate entity controlled by Karen Canellis. In September 2005, Canellis and Gray parted ways. In April 2006, Canellis filed suit against Gray for breach of…