Motion to Expedite Contesting Touch of Italy Auction Denied - WBOC-TV 16, Delmarvas News Leader, FOX 21 -

Motion to Expedite Contesting Touch of Italy Auction Denied

Posted: Apr 30, 2018 5:02 PM Updated:

SUSSEX COUNTY, Del.- A request for an expedited motion to review the fairness of restaurant chain Touch of Italy's recent auction has been denied.

David Weidman, an attorney for the plaintiffs, says the Chancery Court stated that the remedy was for monetary damages

"Thus, the Court has basically said that the sale can’t be contested," Weidman wrote in an email to WBOC. "But if anyone is found to have acted improperly, then the Court will award damages."

In an amended complaint filed last week, Weidman's clients alleged that Bob Ciprietti--Touch of Italy's co-founder who won the auction-- "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."

Last week, Ciprietti told WBOC he could not comment on the allegations due to pending litigation, but affirmed the bidding process was fair. On Monday, Ciprietti said now it was back to business as usual. He also thanked his customers for their loyalty throughout the case.

Touch of Italy went to auction in April after a bitter months long legal battle where two of the company's shareholders, Michael Berardinelli and Delmarva Tennis Packages LLC, have filed a complaint against the company, calling for their "fair value of their interests." The result of that complaint was Touch of Italy being auctioned off, and Ciprietti was declared the winner in mid-April.

In light of his motion's denial, Weidman says the plaintiffs will now need to decide how to proceed. In the email he refers to the damages claims against Ciprietti as "fraud and breach of his fiduciary duties for rigging the sales process."

Ciprietti, meanwhile, has moved forward on a long-awaited expansion to Milford, as he says he filed building permits for the property last week. 

 

  • Delmarvawide NewsDelmarvawide NewsMore>>

  • President Trump Visits Dover, Drawing Mixed Reactions

    President Trump Visits Dover, Drawing Mixed Reactions

    Saturday, January 19 2019 6:09 PM EST2019-01-19 23:09:17 GMT
    Saturday, January 19 2019 6:09 PM EST2019-01-19 23:09:17 GMT
    In this July 24, 2017, file photo, President Donald Trump speaks about healthcare in the Blue Room of the White House in Washington. (Photo: AP)In this July 24, 2017, file photo, President Donald Trump speaks about healthcare in the Blue Room of the White House in Washington. (Photo: AP)
    In this July 24, 2017, file photo, President Donald Trump speaks about healthcare in the Blue Room of the White House in Washington. (Photo: AP)In this July 24, 2017, file photo, President Donald Trump speaks about healthcare in the Blue Room of the White House in Washington. (Photo: AP)
    In a tweet posted early Saturday morning, President Trump announced plans to visit Dover Air Force Base to meet and mourn with the families of four U.S. troops killed while serving in Syria.More
    In a tweet posted early Saturday morning, President Trump announced plans to visit Dover Air Force Base to meet and mourn with the families of four U.S. troops killed while serving in Syria.More
  • UPDATED: Police Searching for Homicide Suspect in Caroline County

    UPDATED: Police Searching for Homicide Suspect in Caroline County

    Friday, January 18 2019 6:01 PM EST2019-01-18 23:01:07 GMT
    Saturday, January 19 2019 3:59 PM EST2019-01-19 20:59:42 GMT
    Stanley Edwards Rickets Jr.Stanley Edwards Rickets Jr.
    Stanley Edwards Rickets Jr.Stanley Edwards Rickets Jr.
    Federalsburg Police are searching for a suspect involved in a deadly shooting Friday.More
    Federalsburg Police are searching for a suspect involved in a deadly shooting Friday.More
  • Bridgeville Man Arrested After 390 Bags of Heroin Seized

    Bridgeville Man Arrested After 390 Bags of Heroin Seized

    Friday, January 18 2019 9:15 PM EST2019-01-19 02:15:32 GMT
    Saturday, January 19 2019 9:33 AM EST2019-01-19 14:33:09 GMT
    Delaware State Police said troopers arrested a Bridgeville man after a curfew violation led to the discovery of nearly 400 bags of heroin.More
    Delaware State Police said troopers arrested a Bridgeville man after a curfew violation led to the discovery of nearly 400 bags of heroin.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