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OBEX Securities, LLC vs. Healthzone Limited – Index No. 10-6876 (SAS)

Lax & Neville LLP successfully wins a summary judgment motion in a case defending Healthzone Limited (“Healthzone”), an Australian based health store against claims raised by OBEX Securities, LLC (“OBEX”), a small broker-dealer. On November 3, 2011, the Honorable Shira Scheindlin granted Healthzone’s motion for summary judgment and directed entry of judgment in favor of Healthzone. Specifically, Judge Scheindlin dismissed, with prejudice, OBEX’s breach of contract claim against Healthzone as there was no evidence that Healthzone breached the placement agent agreement because OBEX never introduced any individual or entity to Healthzone that ultimately invested in Healthzone.

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