Investor Michael Schwab Wins Against Fraudulent Lawsuit by Nicholas Behunin That Sought $25 Million

SAN FRANCISCO, Dec. 19, 2017 /PRNewswire/ -- Michael Schwab, son of Charles Schwab Corp. founder Charles R. Schwab, has defeated legal claims against him by an individual who has also made a series of false accusations against him and the Schwab family as part of an attempt to extract $25 million in payments.

California Superior Court Judge Michael Johnson ruled in favor of Michael Schwab and companies connected to him, and granted Mr. Schwab's request to throw out all causes of action contained in a lawsuit filed by Nicholas Behunin, Sealutions, LLC, and the Grain Collective, LLC, that fabricated allegations against the Schwab family and sought $25 million in damages. The Grain Collective is owned by Behunin and Christopher Jensen.

In addition to Michael Schwab and his family, Judge Johnson threw out all claims against Big Sky Venture Capital III LLC, Big Sky Real Estate LLC and Big Sky Venture Capital V LLC. The ruling was made Oct. 27.

"This is a total and complete victory over Nick Behunin and his fraudulent statements and legal attempts to shake down Michael Schwab and his family," said attorney Robert R. Moore of the law firm Allen Matkins, who along with David Schwartz of the Law Offices of David H. Schwartz, Inc., and Michael Stepanian of the Law Office of Michael Stepanian, represented Michael Schwab, Charles R. Schwab and their investment groups.

The court had previously granted requests for summary judgment filed by associates of the Schwabs who were also named in Behunin's lawsuit as defendants, finding that the "plaintiffs fail to submit evidence that raises triable issues of fact" that support Behunin's claims against the defendants. Charles R. Schwab was previously dropped from all legal actions as well.

The case is Sealutions LLC et al. case number BC546925, in the Superior Court of the State of California for the County of Los Angeles.

Contact: Sam Singer
Singer Associates Public Relations, Inc.
Phone: 415.227.9700
Email: [email protected]

SOURCE Michael Schwab