Brevet Holdings

Galactic is representing and funding Paul Iacovacci against Brevet Holdings. Iacovacci was the founding member of Brevet Short Duration Holdings LLC. He managed the short duration lending fund. Iacovacci was entitled to a percentage of net profits from the investments of the fund.

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During a time that Iacovacci underwent major medical procedures, Brevet Holdings hacked into his personal computer and used materials allegedly found there to terminate Iacovacci for alleged cause. Alleging that, Iacovacci intended to start his own fund and divert corporate opportunities to his own company.

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Iacovacci sued for breach of contract and illegal hacking to make any non-compete action unenforceable and to commence employment action. Brevet’s answer was to countersue to prevent the diversion of corporate opportunities by Lacovacci

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Galactic and Iacovacci successfully argued against all of Brevet’s counter claims and Iacovacci was awarded a significant settlement. Galactic's proceeds from the settlement is $15 million, to be paid over 3 years.

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