Karmaloop, Inc. v. Allen Sneider

Summary

In this business-organizations proceeding, plaintiff Karmaloop, Inc. challenged the number of corporate shares own by defendant Allen Sneider, a former advisor and fund raiser for the company. Karmaloop alleged Sneider manipulated the company’s books and finances for personal gain. Sneider filed a counterclaim, alleging Karmaloop properly issued him more than 871,000 shares of stock. The jury ultimately found in favor of Sneider in his counterclaim. The original suit was filed in 2008.