DataTreasury and Company Executives – Defense of $185 Million ‘Pay to Prosecute’ Lawsuit

Herrick and co-counsel negotiated a favorable settlement for DataTreasury and two of the company's executives, bringing to an end a $185 million dollar lawsuit filed by Long Island attorney Robert Del Col and his client Ted Doukas against multiple defendants, including our clients and former Nassau County District Attorney Kathleen Rice. The complaint, filed by plaintiffs who had been involved in a dispute over patent royalties with DataTreasury, alleged that the plaintiffs' arrest and indictment for grand larceny had been motivated by campaign contributions made by the company to the Nassau County District Attorney's office. Following the court's dismissal of several of the plaintiffs' claims, this litigation was settled in an agreement that contemplated no admission or finding of wrongdoing by any defendant and for a small fraction of the damages claimed.