New Complaint Filed After Touch of Italy Founder Wins Auction - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

New Complaint Filed After Touch of Italy Founder Buys Back Company in Auction

Posted: Apr 23, 2018 10:01 PM Updated:

SUSSEX COUNTY, Del.- Touch of Italy's ownership may be up for debate again.

Days after founder Bob Ciprietti was the highest bidder for the restaurant chain, one of the original plaintiffs filed an amended complaint questioning the bidding process. 

A lawyer for plaintiff Delmarva Tennis Packages LLC provided WBOC with a copy of the amended complaint. The document alleges that Ciprietti "locked up the leases (thereby breaching his fiduciary duty of loyalty by acting as competitor, rather than a teammate of, the minority shareholders)." It also claims the Chief Restructuring Officer "initiated and oversaw a rushed, flawed and tainted bidding process."

Ciprietti tells WBOC he could not comment on the allegations due to pending litigation, but affirmed the bidding process was fair.

"I participated just like any other bidder would have participated," he explains. "There was a CRO--an independent chief restructuring officer--and he had criteria. We followed the criteria and we just happened to be the winning bid."

The newly filed amended complaint asks the Chancery Court to expedite an evidentiary hearing to review the fairness of the auction. The complaint states that the plaintiff is moving quickly in order for the Court to have time to "consider the feasibility of rescission" -- in this case, the cancellation of the winning bid. Ciprietti says the new complaint will not stop Touch of Italy's operations.

"It's business as usual for me for the first time in a long time," he says. "It was business as usual for [my employees] all along and now we are looking forward to really running the business again."

Ciprietti says he is moving forward on expanding Touch of Italy. For one, he says he is filing building permits for the long awaited Milford expansion this week.

The entire amended complaint, read the PDF below. 

 

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • Highway Cleanup In Honor of WBOCs Former Owner, Thomas Draper

    Highway Cleanup In Honor of WBOCs Former Owner, Thomas Draper

    Aug 19, 2018 6:01 PM -04:002018-08-19 22:01:00 GMT
    Sunday, August 19 2018 6:01 PM EDT2018-08-19 22:01:52 GMT
    Tom Draper is shown standing outside the WBOC NewsPlex in Salisbury. (Photo: WBOC file)Tom Draper is shown standing outside the WBOC NewsPlex in Salisbury. (Photo: WBOC file)
    Tom Draper is shown standing outside the WBOC NewsPlex in Salisbury. (Photo: WBOC file)Tom Draper is shown standing outside the WBOC NewsPlex in Salisbury. (Photo: WBOC file)
    A special highway cleanup took place early this morning, in honor of WBOC's former owner, Mr. Tom Draper.More
    A special highway cleanup took place early this morning, in honor of WBOC's former owner, Mr. Tom Draper. 
    More
  • Final Day of Wicomico County Fair

    wicomico

    Aug 19, 2018 5:35 PM -04:002018-08-19 21:35:00 GMT
    Sunday, August 19 2018 5:45 PM EDT2018-08-19 21:45:53 GMT
    Wicomico County Fair Wicomico County Fair
    Wicomico County FairWicomico County Fair
    SALISBURY, Md--Wicomico County Fair took place this weekend, and Sunday was the final day of the fair. Sundays final day of the year was filled with lots of entertainment, animals, and of course, great food. Fair goer, Jill Thornes, says she's sad this yeMore
    SALISBURY, Md--Wicomico County Fair took place this weekend, and Sunday was the final day of the fair. Sundays final day of the year was filled with lots of entertainment, animals, and of course, great food. Fair goer, Jill Thornes, says she's sad this yeMore
  • Cambridge Woman Arrested After Stealing From Target Twice

    Cambridge Woman Arrested After Stealing From Target Twice

    Aug 19, 2018 5:18 PM -04:002018-08-19 21:18:00 GMT
    Sunday, August 19 2018 5:18 PM EDT2018-08-19 21:18:55 GMT
    Two women were arrested after a traffic stop lead cops to drug paraphernalia.Two women were arrested after a traffic stop lead cops to drug paraphernalia.
    Two women were arrested after a traffic stop lead cops to drug paraphernalia.Two women were arrested after a traffic stop lead cops to drug paraphernalia.
    Easton Police said they arrested a Cambridge woman Friday after they responded to the Target store and learned she had shoplifted on more than on occasion.More
    Easton Police said they arrested a Cambridge woman Friday after they responded to the Target store and learned she had shoplifted on more than on occasion. More
Powered by Frankly

All content © Copyright 2000 - 2018 WBOC. All Rights Reserved. For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices