The owner of an Atlanta insurance consulting firm is appealing a recent $1.76 million court award against him in a suit by his former employer, Merger & Acquisition Services, Inc. (M&A).
The award was entered in July against Aaron N. Prisco, owner of Prisco Consulting, who was an employee of M&A until November, 2003. He was accused of keeping M&A customer information and other property afte he left M&A and using it to compete unfairly against his former employer.
As part of the judgment, the Judge Thomas N. Davis, Jr. awarded M&A and its founder, David Schofield, $500,000 in punitive damages and stated that Prisco “showed willful misconduct and specific intent to harm” Merger & Acquisition Services.
The $1.76 million judgment also included M&A’s attorney fees and litigation expenses of $320,000.
The award of damages followed a court finding that Prisco “concealed evidence, destroyed evidence and made false statements about such evidence” showing “a blatant contempt for this court and a fundamental disregard for the judicial process.”
After Prisco left M&A in 2003, he brought contract claims against the
company for unpaid compensation and for retirement benefits. M&A subsequently filed counterclaims, alleging that Prisco improperly competed after his departure.
But Prisco’s lawyer says that issues of liability were not litigated. Damages were awarded based on M&A’s allegations of improper competition by Prisco Consulting, according to Prisco’s attorney, Brad Dozier of Dozier Law Group, LLC.
Dozier said that M&A was not actually required to prove at trial with supporting evidence that Prisco engaged in any improper competition.
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