NAS Electronics, Inc. v. Transtech Electronics PTE Ltd.
The plaintiffs, NAS Electronics, Inc., Jerry Choe, and Pil Yon Choe, initiated an action in New York State Supreme Court against Transtech Electronics Pte Ltd., NAS-Transtech Technology Ltd., and four individuals, alleging fraud, breach of contract, tortious interference, slander, and seeking a preliminary injunction. This lawsuit arose from a previous settlement agreement where the plaintiffs owed the defendants $3.2 million due to the plaintiffs' failure to make timely payments and transfer patent rights. The case was subsequently removed to the Southern District of New York. Presiding District Judge Koeltl granted the defendants' motion for summary judgment and dismissal on all claims. The fraud claim was barred by res judicata and collateral estoppel, the breach of contract claim failed due to the plaintiffs' own material breach, and the tortious interference, slander, and preliminary injunction claims were deemed unsupportable or moot. The court also denied the plaintiffs' cross-motions for partial summary judgment, leave to amend the complaint, and to reopen discovery.