Bank Saderat Iran v. Telegen Corp.

MEMORANDUM *

Appellants Richard Gaines (“Gaines”) and Sahara Associates, Inc., (“Sahara”) challenge many aspects of the district court’s holding below in favor of appellees Jessica Stevens and Telegen Corporation. The district court held, following a bench trial, that attorney Gaines breached his fiduciary duty to appellees; that Sahara’s financing deal with appellees violated New York law; and that both appellants owe considerable damages. Appellants assert, inter alia, that (1) the district court lacked personal jurisdiction over appellants; (2) the court’s findings regarding Gaines’s breach of fiduciary duty are not supported by the evidence; (3) the court applied the wrong state’s law in awarding punitive damages for Gaines’s breach of fiduciary duty; and (4) the court misinterpreted New York law in requiring Sahara to pay treble damages. We affirm in part and reverse in part.

We review the district court’s determination regarding personal jurisdiction, the court’s choice of law analysis, and its interpretation of New York statutory law de novo. Howard v. Everex Sys., Inc., 228 F.3d 1057, 1061 (9th Cir.2000); Zinser v. Accufix Research Inst., 253 F.3d 1180 , 1187 (9th…