Optec International Inc (OPTI)

[Olderandwiser]

DJT Solutions lawsuit: OPTI’s “lack of opposition”:

Thanks, jimmyzzz, for posting this lawsuit news.

To all, here’s more info. (Jimmy’s post #88697 has the total judgment amount: $7,137,345.84.)

The case was filed 2/4/2022.
Here are excerpts from the “Tentative Rulings - March 17, 2022”:
CASE NO.: 37-2022-00004561-CU-PA-NC CASE TITLE: DJT SOLUTIONS INC VS OPTEC INTERNATIONAL INC

http://www.sandiego.courts.ca.gov/v3tr/ViewRulings.aspx?CaseNo=37-2022-00004561-CU-PA-NC&SelDates=03/18/2022&EventId=2484443

“The court construes Respondent OPTECT (sic) International, Inc. ("Respondent")'s lack of opposition as a concession of the Petition's merits. In addition, the uncontroverted evidence establishes that on December 21, 2020, Petitioner and Respondent entered into a Purchase and Sale Agreement (the "Agreement") under which Respondent agreed to purchase 4,003,200 Honeywell DC300 respirator masks from Petitioner for $7,926,336.00. See Attachment 4(b) to the Petition. In December 2020, Petitioner delivered 2,631,400 masks to Respondent and was prepared to deliver the remaining masks; however, Respondent paid Petitioner only $1,000,000.00 and refused to pay the balance due under the Agreement. On June 14 and October 8, 2021, the parties attended arbitration as required under ¶ 13.2 of the Agreement. On December 2, 2021, the Honorable James R. Eyler (Ret.) of the American Arbitration Association awarded Petitioner $6,926,336.00 plus $9,160.00 in administrative fees and expenses and arbitrator compensation and expenses against Respondent (the "Arbitration Award"). See Attachments 8(c), 9(b) to the Petition…
This is the tentative ruling for the hearing at 1:30 p.m. on Friday, March 18, 2022. If no party appears at the hearing, this tentative ruling will become the order of the court as of March 18, 2022.”