Dealer Group Settles Dispute

By Staff Writer October 16, 2020

Trophy Automotive Dealer Group LLC, an automotive dealer group operating in California, announced that it has reached a settlement with Byron Z. Moldo, the court appointed receiver for the Sage Group of auto dealerships.

In June and October 2019, various TADG subsidiaries filed complaints against the receiver and various Sage entities for breach of contract. The settlement resolves these complaints. 

The settlement also fully resolves the action filed by the receiver against TADG, certain of its subsidiaries, Nasser Watar, and certain former Sage employees, alleging various claims including concealment and breach of fiduciary duty. The settlement includes the complete dismissal of the action against Watar, TADG, its named subsidiaries, and the named former Sage employees. The settlement did not include any admission of liability on the part of Watar, TADG, its subsidiaries, or any of the named former Sage employees. 

Watar, president of TADG, mentioned: “I am happy that the parties have agreed to a full resolution of their claims in this settlement, including the complete dismissal of claims against myself and Trophy Automotive Dealer Group.”

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Last modified on Monday, 02 November 2020 17:08