Dalicandro v. Reliance Insurance Co.
United States District Court, Eastern District of Pennsylvania
What the Case Involved:
Marks & Sokolov successfully represented Frank Dalicandro who suffered a financial loss when he sold his shares in Legalgard, which failed to disclose that it was in negotiations for a later sale which would have netted Dalicandro a higher price for his shares. The case was complicated when Legalgard transferred all of its assets to its parent Reliance Insurance Co. which rendered Legalgard bankrupt and then Reliance was subsequently placed into liquidation by the Commonwealth of Pennsylvania.
Marks & Sokolov obtained leave from the United States Bankruptcy to pursue a recovery on behalf of assets transferred from Legalgard. The case was settled with a recovery of $900,000. Bruce S. Marks and Tom Sullivan served as lead trial counsel