Former Alabama All-American Mark Barron and his company, MSV Synergy LLC, have been awarded $2,784,606.61 in a lawsuit filed on September 10, 2021.
Judge Edgardo Ramos of the U.S. District Court for the Southern District of New York issued the ruling last week, confirming an arbitrator’s decision in favor of Barron and MSV Synergy. Ramos also rejected a motion by attorney Saadia Shapiro and Paz Global Ventures LLC to overturn the arbitrator’s award.
The lawsuit accused Shapiro of exploiting his legal expertise to defraud Barron of $2 million. According to the complaint, Shapiro made false promises about obtaining FDA-approved medical gloves from China, leading MSV Synergy to enter a $2 million agreement on October 30, 2020. The funds were to remain in escrow until delivery of 250,000 boxes of gloves to a New York/New Jersey site.
In December 2020, Shapiro requested the escrowed funds for shipping costs, assuring MSV Synergy that deliveries would arrive within 13 to 17 days. Despite releasing the money, MSV Synergy never received the gloves or the $2 million.
Judge Ramos sent the case to arbitration in September 2022. On June 3, 2023, arbitrator Shira A. Scheindlin ruled that Shapiro and Paz Global Ventures had breached agreements with Barron and MSV Synergy, including the Escrow Agreement and Guarantee Agreement.
In his final judgment, Ramos upheld Scheindlin’s findings and ordered Shapiro and Paz Global Ventures to pay $2 million, plus 9% pre-judgment interest from May 19, 2021, to December 11, 2024, amounting to $642,082.19. Additional costs included $63,290.76 in arbitration and administrative fees and $79,233.66 in attorney’s fees.
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