Tuesday, October 6, 2015

Mark Zuckerberg moves closer to trial over property dispute

Not sure what to make of this one. Mark Zuckerberg, Facebook's CEO is in another dispute over his private property in Palo Alto. I know in the past there was a little bit of a controversy when he first bought the land on which his property sits because he then started buying up neighboring properties for "privacy reasons." 

Now it it seems that a real estate developer who owned a property adjacent to Mark agreed to sell it at less than market value in exchange for Mark introducing him to his high powered Silicon Valley contacts (I guess for the referrals, future business for his real estate business, etc.). 

So what happened? Mark failed to introduce the developer his high powered contacts and now the developer is suing for fraud and breach of contract.



Mark Zuckerberg moved closer to a trial over a developer's lawsuit alleging the billionaire committed fraud by reneging on a promise to introduce him to Silicon Valley's elite as part of a land deal.

A state judge in San Jose, California, on Thursday denied Zuckerberg's request to throw out claims that he didn't keep his word in a $1.7 million deal that ended plans for a mansion with a view into the 31-year-old Facebook Inc. founder's bedroom. Superior Court Judge Patricia Lucas said at a hearing she'll consider Zuckerberg's arguments before making a final decision on a breach-of-contract claim.

Zuckerberg's backyard privacy showdown took another dramatic turn when the lawyer for the developer confirmed during the hearing that he's seeking to withdraw from the case. Attorney David Draper, who represents developer Mircea Voskerician, didn't disclose why he wants off the case just weeks before it's set for trial. He declined to comment on it outside of court.

Patrick Gunn, a lawyer for Zuckerberg, said Draper has a conflict with his client and made the request to withdraw in court filings that don't describe what the conflict is. It's "not clear" why Draper wants to withdraw, Gunn said in an interview, noting that the judge has scheduled a hearing on the matter next Thursday.

Gunn declined to comment on the judge's ruling.

Source: San Jose Mercury News, Joel Rosenblatt
http://www.mercurynews.com/business/ci_28907899/zuckerberg-must-face-fraud-claims-property-dispute-trial

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