Dui defense attorney Joshua L. Drennen, who is seeking $1.3 million in damages after his client was sued by an investor in a business, says he is also seeking an injunction against the company in question.
Drannen, the managing partner of the law firm Drennens and Drennan, is also an investor of the business.
Drexel has also filed suit in the California state court alleging that the company defrauded investors by failing to pay them for a number of years, according to the lawsuit filed in Sacramento.
Dronen has also alleged that Dui defraudes investors by charging a fee that is “exceedingly high” and that the business was not required to provide information to investors about the amount of the fees they were being charged.
According to the California attorney general, the company charged investors in the state’s venture capital market between $1,000 and $1 million annually, and its website and other communications did not list fees for these transactions.
The company did not respond to Mashable’s request for comment.
In his suit, Drenen says that investors should be able to take a second look at the business after the fact, and that he was not misled by the company.
“If I were Dui, I would have called the bank and told them the truth,” he told Mashable.
“I should have asked them to give me the bank records to show what the fee was and to tell me that it was less than what it said on the website.
That’s not what Dui is supposed to do.”
Dronnens lawsuit also alleges that the investment firm “knowingly” misrepresented its fees to investors, and the court filing states that “the company’s conduct was dishonest and deceitful.”
In response to the suit, Dui issued the following statement to Mashability: We have been advised by the California Attorney General’s Office that they have filed a lawsuit against Dui Capital, a venture capital fund that we are an investor with.
The lawsuit has not been filed in California, and Dui did not directly or indirectly engage in the conduct described in the complaint.
In light of the recent actions of Dui and its board, we are considering our options.
The actions of a few rogue investors, however, have left our company without confidence in the investment community and harmed our reputation.
We are cooperating with the California Department of Justice in this matter.
Dui declined to comment further on the suit.
Dreyer and the Dui lawsuit are among the more than a dozen similar cases filed in the US each year, according, according a Reuters report.
The law firm says that it’s currently considering a number legal options, including a class-action suit.
Duis lawsuit is one of the first to allege that the fund misled investors about fees charged to investors in a venture-capital industry, Reuters reports.
The fund allegedly charged investors a “substantial fee” for investments made with it in a number, including three investments made in a technology startup, according the lawsuit.
Drazan and Drexon are not the only defense lawyers to take legal action against the business in the past year.
The Washington Post reports that a class action lawsuit was filed by a group of former Dui employees and former Duis investors in April.
The group alleged that investors in Dui’s venture-backed portfolio in 2016 were “forced to pay $1 billion to Dui-owned investment companies to avoid paying Dui fees.”
Drexell has also launched an investigation into whether or not investors were misled about the fees the firm charged.
A spokesperson for the company told Mashup that Duis was aware of the class action complaint and had taken steps to remedy the situation, and would continue to work to prevent any misclassification of investments.
Druen and Dronnen, both of whom are former DuI employees, have filed lawsuits against other companies in the space in the same area of law.
Drednen was also a partner in the private equity firm Drexenberg Capital, which he left after just one year in 2018, according Reuters.
Drezner, the former Duimans defense attorney, has also been active in the venture capital industry, and recently filed a case against one of his former clients, a former Duist Group investor.
Drahnens case has drawn national attention, with the hashtag #1stQuake trending on Twitter on Wednesday, February 14.