John Zamora Settles for $9.2 Million in Dispute with Graphic Press, LLC.
LOS ANGELES--September 30, 2008--In a settlement to a lawsuit brought by John Zamora and Graphic Press, Inc., defendants Graphic Press LLC., Nogales Investors LLC., Nogales Investment Fund I, Luis Nogales and Mark Mickelson have agreed to pay John Zamora $9.2 million.
Zamora sued the defendants for slander, breach of contract, wrongful termination, breach of fiduciary duty, wrongful disparagement, intentional interference with contract, intentional interference with prospective economic advantage, declaratory relief and equitable indemnity. Defendants sued John Zamora and received nothing on their claims.
In addition to the financial award, John Zamora also retains the rights to the identity of the company he founded, Graphic Press, Inc., and regains the rights to the name Graphic Press LLC.
After a distinguished career in sales for two of the country's most elite commercial web and sheet-fed printers, John Zamora was pursuing his life-long dream when he founded Graphic Press, Inc. in 2000. In its first four years, under Zamora's leadership, Graphic Press' revenues grew from a start-up to $57 million in sales.
In 2005, Zamora was expelled from Graphic Press by Nogales Investors and prevented from participating in the company he founded. He has spent the last 3 years trying to recover funds he had invested and his good name in the industry.
In a statement, Zamora said he "is very pleased with the settlement. The last two years have been a very trying time for me and for my family. I have spent the past 30 years building a solid reputation in the graphic communications industry and am particularly pleased that I have prevailed against the disparagement of my name."
Zamora, once labeled a "legend in the graphic arts business" by Printing Impressions magazine, is currently evaluating his options for the future. "Right now," he says, "I am just very happy to have this behind me."