DENVER, Aug. 15, 2017 /PRNewswire/ -- Just last week on Wednesday, August 9th, a Colorado federal court jury found software trading company Genesis Financial Technologies Inc. in breach of contract with futures and commodities trader Larry Williams and LnL Publishing, LLC (Mr. Williams' intellectual property licensee).
The jury handed down a unanimous verdict for the 5-year case after approximately 3 hours of deliberation. The jury also unanimously denied all of Genesis' defenses and counter claims.
Williams, the plaintiff, alleged that he and LnL Publishing, LLC did not receive royalties owed by Genesis Financial Technologies Inc. and its CEO and founder Glen Larson.
The jury found that Larson breached an oral contract made with Williams and owes the trader $358,277. They also found that Genesis used an item of value belonging to LnL Publishing, LLC and Williams without paying for it, owing Williams an additional $400,000 and LnL Publishing, LLC $1.5 million.
Case Number 14-cv-03353-MSK-STV, Jury's Verdict is Docket Number 113, redacted.
Larry Williams is a best-selling author on investment topics, and renowned commodities, stocks and futures trader.
LnL Publishing, LLC is a publisher and distributor of financial educational products. It is owned and operated by Louise Stapleton and holds all rights to Williams' body of work.
Genesis Financial Technologies, Inc. offers Trade Navigator trading software for charting and technical analysis tools as well as market data. It is based in Colorado Springs, Colorado.
LnL Publishing, LLC will shortly determine if Genesis Financial Technologies, Inc will be fully precluded from being a distributor of any of Larry Williams' work in Trade Navigator software, find another software company and/or distributor, or determine if LnL Publishing, LLC will be the sole distributor of Williams' works to his clients.
For more information, contact the Law Office of Kurt Hallock in San Diego, CA.
Law Office of Kurt Hallock
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SOURCE LnL Publishing, LLC