With $17.1 million on its balance sheet, including $6.7 million in restricted cash, LiveXLive’s cash position will inevitably be eaten up next quarter by costly salaries, legal bills (if it bothers to pay its lawyers this year) and increasing expensive efforts to raise more money and pay off license holders. The company ended its cost reduction plan June 30, meaning the salary cuts are over now. OF THE SUPREME COURT, APPELLATE DIVISION, FIRST DEPARTMENT.After Dismal Year-End Results, LiveXLive Wants to Pivot Conversation to Pay-Per-View and Podcasts Corp., 58 NY2d 293, 304 Logan Advisors, LLC v Patriarch Partners, LLC, 63 AD3d 440, 443, ).THIS CONSTITUTES THE DECISION AND ORDER There are no rights in the employment agreement that relate to the ticketing company, and, as plaintiff concedes the agreement provided for termination without cause, the claim of breach of the implied covenant of good faith and fair dealing was correctly dismissed as duplicative of the breach of contract claim (see Murphy v American Home Prods. He contends that LiveXLive Tickets acted in bad faith when it shut down the ticketing business, which frustrated the purpose of the employment agreement, and terminated his employment without cause.
breached the covenant of good faith and fair dealing implied in the employment agreement between them by dismantling the ticketing company that he had sold to it at the time the agreement was entered into, thereby preventing him from earning a performance bonus to which the agreement entitled him if LiveXLive Tickets reached certain sales thresholds. Plaintiff Schnaier argues that defendant LiveXLive Tickets, Inc. Schecter, J.), entered February 6, 2019, which, to the extent appealed from as limited by the briefs, granted defendants' motion to dismiss the cause of action for breach of the covenant of good faith and fair dealing, unanimously affirmed, without costs. Order, Supreme Court, New York County (Jennifer G. Schlam Stone & Dolan LLP, New York (Joshua Wurtzel of counsel), for appellant.
Livexlive Media, Inc., Formerly Known as Loton Corp., et al. 2019-03269ĭanco Enterprises, LLC, et al., Plaintiffs, Joseph Schnaier, Plaintiff-Appellant, This opinion is uncorrected and subject to revision before publication in the Official Reports.īefore: Friedman, J.P., Renwick, Oing, Mendez, JJ. Published by New York State Law Reporting Bureau pursuant to Judiciary Law § 431. Danco Enters., LLC v Livexlive Media, Inc.
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