A former officer of a patent holding company forfeited his right to exercise stock options he claimed were worth $100 million because he actively undermined the company during his time there, a Suffolk County Commercial Division judge has ruled.
Supreme Court Justice Emily Pines (See Profile) ruled on Oct. 30, following a trial in Trimarco v. Data Treasury, 30324/03, that the employee, Michael Trimarco, breached his implied covenant of good faith and fair dealing while working as chief operating officer of Data Treasury Corp., a company that holds patents on electronic check imaging.
