One of Ross Perot Jr.'s Suits Against Mark Cuban Gets Adiosed. Will the Other Follow Suit?
Back on July 15, 2009, Ross Perot Jr.'s Hillwood Center Partners sued Mark Cuban (and the Dallas Mavericks) over money made from the American Airlines Center, with Perot insisting that the AAC's profits weren't going to partners (including Perot, who still owns a 5-percent stake in the NBA team) but to the Mavericks instead. Alleged the initial complaint, which follows for those in need of a history lesson, Cuban "wrongfully diverted" more than $21 million to the Mavs to cover "substantial shortfalls."
Then, in May 2010, Perot upped the ante, claiming in yet another lawsuit that the Mavs were more than $280 million in debt, "insolvent" and in desperate need of a court-appointed receiver. That complaint also follows. Cuban and his attorneys, of course, vehemently disagreed with both suits, with the Mavs owner accusing Perot of "trying to find nickels in the sofa cushion."
Last summer, a judge sent the original case involving the AAC to arbitration in September, and a ruling, turns out, was handed down in October -- a ruling that said Cuban owed Perot nothing, but that Perot would have to pay Cuban's attorneys' fees. This morning, Cuban's attorney, Fish & Richardson's Tom Melsheimer filed a motion in Dallas County District Court asking the judge to re-open the case, confirm the arbitration award and then dismiss the case with prejudice. It also follows.
But why today and not, like, last year?
"There was no timing pressure, so we got it done today," says Melsheimer, who's also repping Tom Hicks in his case against Liverpool FC. "It was largely an agreed motion that confirmed the award and dismissed the case with prejudice." A message has been left with attorney Mark Davenport, who filed both cases against Cuban and the Mavericks.
As for the other case involving the Mavericks -- that was referred to mediation in July, but there hasn't been any action since. When asked what's going on there, Melsheimer says, "That's up to Mr. Perot. We think that one has even less merit than this one, so we hope he'll decide he doesn't want to consider it any longer."
Perot v Cuban Original Complaint Perot v Cuban 2 Original Complaint 2011-02-22 Unopposed Motion to Lift Stay and Confirm Award
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