Cross-Defendants argue Cross-Complainants failed to allege facts suggesting they suffered any damages as a result of Cross-Defendants alleged breach of the Letter Agreement. In 1986. Latest on Los Angeles Chargers cornerback Michael Davis including news, stats, videos, highlights and more on ESPN (adsbygoogle = window.adsbygoogle || []).push({}); ), Section 9 of the Letter Agreement provides, in pertinent part, for a general release as follows: (1) Individual Defendants release the Gores Group from any and all actions arising out of or relating to Individual Defendants employment with the Gores Group or their separation from the Gores Group and the release includes and excludes certain types of claims; and (2) Individual Defendants agree that the consideration set forth in Paragraphs 6 [Compensation and Vesting] and 7 [Restrictive Covenants] constitutes the entire consideration provided under this agreement and Individual Defendants will not seek from Gores Group any further compensation or other consideration for any claimed obligation in connection with the matters encompassed by the Letter Agreement. (Complaint 16; Letter Agreement 16. v. Alon USA Energy, Inc., 2019 WL 2714331, at *10 (Del. The Gores Group - The Gores Group For the purposes of a demurrer, Cross-Complainants alleged sufficient facts to state a cause of action for declaratory relief. The official mailing address of David Michael Gores is 2959 Gambrel Gate, La Verne, California, 91750. ), Cross-Defendants argue the 2nd cause of action is subject to demurrer because Cross-Complainants fail to allege a specific implied contractual obligation that Cross-Defendants breached, and only allege Cross-Defendants did not commit their promised $10 million investment, which is the same breach alleged in the breach of contract cause of action. Tom and Holly Gores Partner with Children's Hospital Los Angeles to VS JON GIMBEL, ET AL. Creed 3. . Real estate licenses in US are issued by state government through agencies like real estate commission or board of professional licensing. On July 27, 2020, Gallant published a press release indicating its fund had closed and had raised $378 million. The campaign against Gores heated up in the wake of demands for criminal-justice reform that arose since the death of George Floyd in Minneapolis police custody. Criminal justice activists have been hounding the 56-year-old private equity titan since his Beverly Hills firm acquired Securus Technologies in 2017. However, this argument goes beyond the scope of the pleadings, and Plaintiffs allegations are taken as true for the purposes of a demurrer. She is a graduate of the University of . Summary. (Letter Agreement 15. (Cross-Complaint 9, 52-53.) Defendants argue Plaintiffs allegations about avoiding execution of documents merely suggests the parties were conducting negotiations as provided in the Letter Agreement. Radaris isnot acredit reporting agency and does not offer consumer reports. la persona asignada para el proceso de legalizacin en los distintos Ministerios, Cmaras, Consulados y Organismo Oficiales que requiera, con ms de 20 aos de experiencia Contamos tambin con traductores Jurados reconocidos por el Ministerio de Asuntos Exteriores, 2022 Apostilladodelahaya.comTodos los derechos reservados, 2022 Apostilladodelahaya.com Todos los derechos reservados. gold label distribution bud man. Home | denysetontzofficial (Complaint 50, fn. Michael Gores's phone number is (651) 458-8142. Michael B Jordan was praised for his journey "from man to god" as he was honoured with a star on the Hollywood Walk Of Fame. Los Angeles, California - Los Angeles financier and philanthropist Tom Gores and his wife Holly have made a $5 million commitment to establish a new pediatric allergy treatment center at Children's Hospital Los Angeles (CHLA).In honor of the family's generous gift, the . 2d 558, 562 (D. Del. Plaintiffs allege Individual Defendants also gave Plaintiffs false, pessimistic, and unpromising financial information regarding the fund to dissuade them from investing, such as stating, May 2020, they estimated the fund would be approximately $200 million when it ultimately closed at $378 million. However, as to Gallant, there is no adequate remedy at law, and the cause of action is sufficiently alleged. Case Number: *******3078 Hearing Date: April 20, 2021 Dept: 71. (Complaint 36.) For the purposes of a demurrer, Cross-Complainants alleged sufficient facts to state a cause of action for breach of contract. The Letter Agreement provides that, as consideration for the agreements contained herein. ), Breach of Contract (1st COA) Individual Defendants, To state a breach of contract claim, Plaintiffs must demonstrate (1) the existence of the contract; (2) the breach of an obligation imposed by that contract; (3) and resultant damage to the plaintiff. Al Gore Combating Climate Change With 24-Hour Live-Stream 2021-08-03. Musicians. This home is the most recent known address for Michael. Based on the foregoing, Defendants demurrer to Plaintiffs 1st cause of action is sustained with leave to amend. Cross-Complainants allege Cross-Defendants did not honor their obligation to cooperate and provide an anchor investment. Michael Garland is a Director of Diversis Capital and responsible for identifying, originating, and qualifying new investment opportunities. The Gores Group has announced or closed nine SPAC deals since 2015, totaling $58 billion in transaction value. (Cross-Complaint 6, 34-36.) Out back, a big brick patio has plenty of space for sunny entertaining, provided folks dont mind the sound of crashing waves overwhelming conversations. Search Details, View Michael's Profiles on Facebook and 60+ Networks, michael****@gmail, View Michael's Profiles on Facebook and 60+ Networks, michael****@yahoo, View Michael's Profiles on Facebook and 60+ Networks, michael****@hotmail, View Michael's Profiles on Facebook and 60+ Networks, michael****@aol, View Michael's Profiles on Facebook and 60+ Networks, michael****@outlook. A; Letter Agreement 16. WENDI GREEN/ JENNIFER MILLAR . We located 8 sex offenders matching the name "Michael Gore" in the US. Paradigm Talent Agency Location 8942 Wilshire Blvd, Beverly Hills, California, 90211, United States Description Industry Management Consulting Business Services Dr. Goran is Professor of Pediatrics in the Keck School of Medicine at the University of Southern California. Ver. Public records for Michael Gores range in age from 30 years old to 73 years old. ), Cross-Complainants allege that Individual Cross-Complainants, while at Gores Group in 2017, decided to start their own private equity firm [Gallant], and Gores engaged them in discussions that led to a proposed deal that would grant Gores a financial stake in Gallants New Fund and its successor funds in exchange for AEG [a Gores Group affiliate] investing $10 million [or up to 5% of the New Funds total commitments] as an anchor investment in Gallants New Fund. Michael Gores's address is 18510 Harrow Ave N, Columbus, MN 55025. The Court notes that in the Letter Agreement, the parties agreed to use their reasonable best efforts to cooperate with each other to, discharge their respective obligations under the agreement and to take such other actions as may be reasonably necessary to further the purposes and intent of the Letter Agreement. Based on the foregoing, Defendants demurrer to Plaintiffs 3rd cause of action is sustained with leave to amend. ), The Letter Agreement provides that, as consideration for the agreements contained herein and for committing and not defaulting upon the Commitment, the following will occur: (1) AEG will become a member of the general partner of the New Fund with a member interest entitling it to 20% of all the New Funds carried interest with the remaining 80% being allocated to the Team, where the agreement governing the New Funds general partner shall be drafted by the New Funds counsel and reasonably acceptable to AEG; (2) AEG will become a member of the general partner for the first and second Gallant successor funds to the New Fund, with a member interest entitling it to receive 10% of all carried interest distributions with respect to the first Gallant successor fund and 5% of all carried interest distributions with respect to the second Gallant successor fund, with remaining distributions allocated to the Team; and (3) AEG will become a 20% member of the management company for the New Fund and all subsequent Gallant funds (Management Company), with an ownership interest entitling AEG to amounts, where the agreement governing the Management Company shall be drafted by the New Funds counsel and reasonably acceptable to AEG. [1] As of 2014, Paradigm represents roughly 1,000 bands and artists,[1] including Ed Sheeran, Fun., Janelle Mone and Jason Mraz;[1] and has grown to eight offices Beverly Hills, Manhattan, Monterey, Nashville, Brooklyn, Austin, Hollywood, and London and more than 300 employees. 2003). Rather, the Letter Agreement covers a range of agreements between the parties, and Plaintiffs have not cited a specific term that makes Individual Defendants responsible in the event AEG does not finalize its investment Commitment. Plaintiffs allege Individual Defendants refused to provide a budget for the Management Company. 4,959 square feet, 4 bedrooms, 6 bathrooms, Ellen DeGeneres Buys Another Grand Old Montecito Estate, Reclusive Texas Billionaire Paid $45 Million for Paul Allens Beverly Hills Estate, Refined Estate in the Hills Sells to Fayed Family Member, Socialite Jamie Tisch Sends Sun-Drenched Sunset Strip Midcentury Back to Market, YouTuber Cody Ko Puts Snazzy Venice Compound Up for Sale, Reclusive Texas Billionaire Paid $45 Million for Paul Allen's Beverly Hills Estate, Waterfront Estate Across the Pond Is Awash in Regal Victorian Luxury, Reconstructed Thornton Abell Modern in Santa Monica Canyon Seeks $10.5 Million. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, The case status is Pending - Other Pending. His current $250+ million portfolio includes a $100 million mansion in the Holmby Hills neighborhood, a $38 million Beverly Park estate and a three-house oceanfront compound in Malibu worth $60 million, conservatively. David Michael Gores in La Verne, California - Real Estate Agent Plaintiffs allege this term had no place in the underlying investment documents and Gores did not agree to impose such a restriction on Gores Group as part of its investment. Results for this person or the person you are looking for are not guaranteed to appear in search results. Alec Gores - Forbes Plaintiffs do not allege AEG committed its Commitment. Michael Gore in Los Angeles, CA - clustrmaps.com Michael Jocson Bustos May 8, 1961 - November 29, 2022 Los Angeles, California | Age 61. [17], Gores is a member of the Academy of Motion Picture Arts and Sciences, the Academy of Television Arts and Sciences and the Recording Academy. Section 15 of the Letter Agreement [Further Assurances] provides that each party agrees to use its reasonable best efforts to cooperate with each other party to discharge their respective obligations under the agreement and to take such other actions as may be reasonably necessary to further the purposes and intent of the agreement. Michael Adkins - The Gores Group, LLC, Los Angeles Cancellation and Refund Policy, Privacy Policy, and Counts may not reflect the number of records that will appear in search results. [3] Sam immediately went to work bagging groceries in an uncle's supermarket, and worked his way through high school as a butcher. The structure itself is set notable far back on its lot, with plenty of driveway space for two cars in addition to the two-car attached garage. As per our records, there are 101 co-workers who are currently working with David . Tel: 323.930.2588. [3] Gores expanding his agency through acquisitions and mergers. Spokeo's database, while extensive, does not contain all U.S. warrant, arrest, court, or other related records. We have marriage records for 7 people named Michael Gores. Michael Gores's email address is michael.go***@aol.com. Plaintiffs do not allege who made the representations and by what means; however, it appears Plaintiffs allegation as to Individual Defendants January 30, 2018 promise is based on the terms of the Letter Agreement itself, not statements made orally or written outside the Letter Agreement. Last year, they tried to persuade public pension funds to not invest in Platinums latest buyout fund, yet the firm raised its biggest fund yet. Alec Gores - Wikipedia Rudy Michael Gore of Chico, age 43, was arrested for Intoxicated in Public in Butte County, California on February 26, 2023 by Butte County Sheriff. Publications. Gallants Standing as an Intended Third-Party Beneficiary to the Letter Agreement (1. 11.) Michael Gore Overview Michael Gore in 2020 was employed in Los Angeles Unified and had a reported pay of $41,020 according to public records. (, Based on the foregoing, Defendants demurrer to Plaintiffs 2, To state a fraud claim, Plaintiffs must allege (1) a false representation; (2) knowledge or belief that the representation was false, or reckless indifference to the truth; (3) an intent to induce Plaintiffs to act or refrain from acting; (4) that Plaintiffs acted or failed to act in justifiable reliance upon the representation, and (5) damages. 801 S FIGUEROA ST STE 600, LOS ANGELES, CA 90017. (Cross-Complaint 11. (Complaint 53. Cross-Complainants allege they are the aggrieved party and bring their cross-complaint to recover the damages caused by Cross-Defendants contractual breaches. (Cross-Complaint, 65.) NBA team owner Tom Gores stepped down from the board of the Los Angeles County Museum of Art on Thursday night after calls for the billionaire's ouster over his investment firm's ownership of a prison telephone company. LOS ANGELES, CA 90024, United States, Los Angeles, California (310) 209-3010 support@gores.com Licensed real estate professionals / entities are also commonly referred to as real estate agents or Realtors. Michael B. Jordan or, as his "Creed III" co-star Jonathan Majors called him, "Michael B. Handsome" received a star Wednesday on the Hollywood Walk of Fame . (Complaint 33.) Kicking off at Dodger Stadium, this annual parade of physical endurance and community spirit winds its way through 26.2 miles of L.A., and usually would wrap up in Santa . Ch. However, as to Gallant, there is no adequate remedy at law, and the cause of action is sufficiently alleged. (Letter Agreement 5(b), (c), (d). ), Plaintiffs allege that following the outbreak of the COVID-19 pandemic, Individual Defendants sought to resolve outstanding issues to have AEG invest $5 million of the $10 million right away, and accordingly, provided Plaintiffs with due diligence information and agreed to proceed without insisting on the restructuring preclusion term discussed above, and the parties finalized the underlying investment documents. Team Offense, Los Angeles Dodgers | baseballmusings.com Now beckoning are the sandy shores of Malibu, where records reveal Gores has upgraded to a $17 million oceanfront house within the fabled Malibu Colony a guard-gated community known for its popularity with Hollywood types. Prior to Diversis, Michael spent several years working in a variety of corporate finance roles in private equity and M&A. Michael graduated from Loyola Marymount University with dual majors in finance and . As such, it is also not clear that Plaintiffs have alleged a misrepresentation, given the Letter Agreement does not include a promise by Individual Defendants to Plaintiffs to ensure AEG make its Commitment to the fund and thereafter be entitled to certain benefits associated therewith. (Letter Agreement 1-3; pgs. (Cross-Complaint 59-62. Al Gore's son busted for drugs in hybrid car | Reuters His company has been acquiring agencies, many of them in the music industry" by Claire Hoffman, Forbes: The World's Billionaires - Tom Gores, Palestinian Surprise: "TALENT AND LITERARY AGENT SAM GORES", "Board of Trustees | The American Academy of Dramatic Arts", "Coronavirus unemployment: Paradigm staff say they were misled - Los Angeles Times", "Paradigm Revolt: CEO Sam Gores Backs Down After Music Agents Object to 50% Pay Cut", "Paradigm Agent's Lawsuit May Be First of Many Coronavirus Breach of Contract Claims", "Paradigm Hit With Blistering $2M Breach Of Contract Suit By Debbee Klein; Sam Gores' Agency Says "False, Frivolous & Scurrilous" Update", "Company funds used for prostitutes, alleges ex-partner at Paradigm Talent Agency", "Former agent's allegations of company funds paying for prostitutes 'pure fabrication,' talent agency says", "Paradigm's Sam Gores Accused of Using Corporate Funds for Prostitutes", "Debbee Klein and Paradigm Agree to Settle Dispute in Arbitration", "Paradigm Responds To Debbee Klein's Suit: Sam Gores' Ex-Asst Calls Prostitutes Claims "Blatant Lies"; Agency Seeks Arbitration For Case", Americada: "Gores, King and White Join Academys Board", https://en.wikipedia.org/w/index.php?title=Sam_Gores&oldid=1128888634, This page was last edited on 22 December 2022, at 13:58. Declaratory Relief (6th COA) Individual Defendants, A declaratory relief request may proceed only if there is an actual controversy between the parties. Search Details, Michael Gore's Phone #, Address & More Michael Gore's Record in 2018. Plaintiffs allege Individual Defendants failed to provide them with information necessary to finalize AEGs investment that is routinely provided to investors including the funds portfolio, other limited partners (investors), and marketing materials. NBA team owner Tom Gores stepped down from the board of the Los Angeles County Museum of Art on Thursday night after calls for the billionaire's ouster over his investment firm's ownership of. Bank account balance aside, the elder Gores also one of L.A.s biggest real estate tycoons. March 4, 2023 at 5:17 a.m. For much of the past year,. Cross-Complainants allege that Individual Cross-Complainants, while at Gores Group in 2017, decided to start their own private equity firm [Gallant], and Gores engaged them in discussions that led to a proposed deal that would grant Gores a financial stake in Gallants New Fund and its successor funds in exchange for AEG [a Gores Group affiliate] investing $10 million [or up to 5% of the New Funds total commitments] as an anchor investment in Gallants New Fund. Ch. 1-2.). Location Malibu Colony, Malibu, Calif. Price $17 million. Rather, the Letter Agreement provides that the parties agree that certain events involving AEGs ownership, partnership, and/or Management Company role in the fund will occur, as consideration for the agreements contained herein and for committing and not defaulting upon the Commitment. As such, the provisions Plaintiffs allege Individual Defendants failed to follow through on were in exchange for both the parties agreements (arguably including Plaintiffs agreement to allow Individual Defendants to use Gores Groups Track Record, contacts, and goodwill) and AEGs committing and not defaulting upon the Commitment, its $10 million investment. Michael Nantz was a United States Marine Staff Sergeant for 20 years. David Michael Gores has a license type of Real Estate Salesperson which allows a real estate professional to perform services such as selling, buying, renting, auctioning, advertising of real estate properties, but only on behalf of a real estate broker (licensed broker who employs the sales agent). 2018-09-26, Los Angeles County Superior Courts | Contract | He led the majors with 42 doubles in 2021. (VLIW Tech., LLC v. Hewlett-Packard Co., 840 A.2d 606, 612 (Del. 8, citing Allied Cap. Last year, they were successful in lobbying New York to become the first major city to offer free phone calls in jails after the corrections system negotiated a contract with Securus that got the citys costs down to 3 cents a minute. March 2023 Events Calendar for Los Angeles - timeout.com tipton, iowa obituaries. Get our latest stories in the feed of your favorite networks. Moreover, the Letter Agreement provides that AEG will commit [$10 million] to the New Fund, without addressing whether such commitment will be subject to further approvals or would have the potential to be restricted by Individual Defendants. (Letter Agreement 1-3; pgs. (Cross-Complaint 10, 55.) (Cross-Complaint 2. Sign up for the California Politics newsletter to get exclusive analysis from our reporters. Defendants Jon Gimbel, Anthony Guagliano, and Gallant Capital Partners, LLCs demurrer to the complaint is overruled as to the 2nd cause of action as to all Defendants, and overruled as to the 4th and 5th causes of action as to Gallant Capital Partners, only. California Obituaries - Online Obituaries, Funeral Notices and Death (Letter Agreement 6. As both artists and activists called for his ouster, billionaire Tom Gores officially stepped down from the Los Angeles County Museum of Art's board of . David Michael Gores has real estate license number 01502471 which was issued by California Real Estate Department on 26 May, 2017. (Complaint 58(a)-(e).) Here, the Letter Agreement provides AEG is to commit its Commitment to the New Fund and Plaintiffs allege Individual Defendants engaged in conduct that stalled AEGs efforts and prevented it from investing. After Platinum's . (Letter Agreement 4.) MHER HAGOPIAN, AN INDIVIDUAL VS SAMER JAYYLUSI, AN INDIVIDUAL, ET AL. Plaintiffs fail to allege Individual Defendants breached an obligation that was imposed by the Letter Agreement. Opinion: How has American healthcare gone so wrong? 3.01.00vd4930, Presumed owner of the real estate located at, Also known as: Michael Gore, Michael Gore Gore, Michael P Gore. (Letter Agreement 7(a).) 2003). VS JOHN MARCO LUPO, ET AL. Michael Gore in Los Angeles, CA. ), Cross-Complainants breach contract cause of action is based on the following allegations: (1) pursuant to the Letter Agreement, AEG agreed to invest $10 million as an anchor investment in the New Fund, which Cross-Defendants promised to use best efforts to provide; (2) Gallant is an intended third party beneficiary of the Letter Agreement because it was formed for the purpose of raising the New Fund and, as such, profits made on investments in the New Fund are realized by Gallant as the management company of the funds; (3) Cross-Defendants breached the Agreement by failing to provide an anchor investment in the New Fund; (4) Cross-Complainants have been damaged as a result because they were not able to realize benefits from the anchor investment, including attracting other potential investors and accordingly forced Cross-Complainants to spend time soliciting investments from other investors. Cross-Complainants assert that an early investment would have produced early returns which they lost out on, Cross-Complainants were also forced to expend resources finding a substitute investment to replace the funds expected from AEG, and Cross-Complainants were unable to attract other investments based on a $10 million AEG investment. Michael Gore Cable Harness Engineer at NASA Jet Propulsion Laboratory Pasadena, California, United States 414 connections Join to connect NASA Jet Propulsion Laboratory Penn State University. During a January 2020 in-person meeting, Individual Defendants expressed to Gores they did not want to include him or his entities as investors and/or partners in their new fund. (See Hiller & Arban, 2016 WL 3678544 at *3 [[Q]uantum meruit is unavailable in cases where it is clear from the complaint that the parties relationship is controlled by contract.].) All mentioned corporate names and trademarks are the property of their respective owners. On 08/31/2020 THE GORES GROUP, LLC filed a Contract - Other Contract lawsuit against JON GIMBEL. 1-2. Buyer Catherina Gores. Michael Gore, Los Angeles, CA (90024) - Spokeo the undercover economist chapter summary. Gores Group SPAC Agrees to IPO With EV-Maker Polestar (Cross-Complaint 39, 42, 43.) Cross-Defendants also argue Gallant has not alleged facts supporting it position as an intended third-party beneficiary of the Letter Agreement so as to support its standing to assert the cause of action. The demurrer is sustained without leave to amend as to the 4th and 5th causes of action as to Defendants Jon Gimbel and Anthony Guagliano, and sustained with leave to amend within 20 days as to the 1st, 3rd, and 6th causes of action as to all Defendants. Sam Gores (born 1954) is the chairman of Paradigm Talent Agency in Beverly Hills, California[1] and has been ranked among the top agents in Hollywood. (Complaint 37.) Its also got a unique celebrity history the place was sold to Gores by prominent talent manager George Shapiro, best-known as Andy Kaufmans manager and for his executive producer credits on Seinfeld. Shapiro hired Barack Obamas White House interior designer Michael S. Smith to do up his Malibu decor in a very traditionally elegant manner. LOS ANGELES, CA 90017: Co-workers for David Michael Gores. The Letter agreement contains additional terms relating to the Management Companys income, operating costs, and budget. Why is this public record being published online? First, the cause of action is based on promises Individual Defendants allegedly made in the Letter Agreement with respect to promising Plaintiffs that AEG would be included as an investor in the Gallant New Fund. (Letter Agreement 15.). (, Gores Group failed to allege sufficient facts to constitute a quantum meruit cause of action against the Individual Defendants since the underlying injury and the parties relationship is controlled by a contract, the Letter Agreement, and the parties do not dispute the existence or enforceability of that contract. Michael Nantz | Battle: Los Angeles Wiki | Fandom And the best part of all, documents in their CrowdSourced Library are FREE! Image . Candelario is another player with some very recent success under his belt, as he hit .278/.356/.458 (125 wRC+) over 832 PA in 2020-21. What did Disney actually lose from its Florida battle with DeSantis? Former Vice President Al Gore kicked off his live 24-hour broadcast calling for solutions to man-made global warming Monday as waves of protests against the very types of policies Gore champions rocked major French cities. 2021-07-28, Los Angeles County Superior Courts | Contract | 2006) [implied covenant analysis will only be applied when the contract is truly silent with respect to the matter at hand, and only when the court finds that the expectations of the parties were so fundamental that it is clear that they did not feel a need to negotiate about them].). Lindsay owns the following phone numbers: (818) 762-4460 (Pacific Bell), (818) 442-7015. Catherina Gores is only 24 years old, but shes already an experienced real estate investor. You can take advantage of the name search feature at Radaris to find some with the first name. Get accurate info on 9329 Nightingale Dr Los Angeles Ca 90069 or any other address 100% free. 2014-01-24, Los Angeles County Superior Courts | Property | Tom Gores' Daughter Buys $17 Million Malibu House - DIRT On April 20, 2021, the Court overruled Cross-Complainants demurrer as to the 2nd cause of action, overruled Gallants demurrer to the 4th and 5th causes of action, sustained Individual Defendants demurrer to the 4th and 5th causes of action without leave, and sustained Cross-Complainants demurrer to the 1st, 3rd, and 6th causes of action with leave to amend. Not much is known about Nantz's early life or the beginning of his career, but he was a very skilled US Marine. VS WESTERN AIR CHARTER INC., A CALIFORNIA CORPORATION. 7-8.) Cross-Complainants breach contract cause of action is based on the following allegations: (1) pursuant to the Letter Agreement, AEG agreed to invest $10 million as an anchor investment in the New Fund, which Cross-Defendants promised to use best efforts to provide; (2) Gallant is an intended third party beneficiary of the Letter Agreement because it was formed for the purpose of raising the New Fund and, as such, profits made on investments in the New Fund are realized by Gallant as the management company of the funds; (3) Cross-Defendants breached the Agreement by failing to provide an anchor investment in the New Fund; (4) Cross-Complainants have been damaged as a result because they were not able to realize benefits from the anchor investment, including attracting other potential investors and accordingly forced Cross-Complainants to spend time soliciting investments from other investors.