iPayment Inc’s CEO & CFO Scheduled for Deposition

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According to court records, iPayment’s CEO Carl Grimstad and its CFO Mark Monaco have been scheduled for their deposition.

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Deposition of iPayment's CEO Carl Grimstad, and its CFO Mark Monaco to be taken in New York on February 3rd 2015 and February 10th 2015 respectively

Prudential Payment Systems announced today that its attorneys have scheduled the deposition of iPayment’s CEO Carl Grimstad, and its CFO Mark Monaco to be taken in New York on February 3rd 2015 and February 10th 2015 respectively, in connection with the ongoing lawsuits between iPayment and Prudential Payment Systems and its CEO Aaron Nasseh.

According to documents for case number BC509053, Los Angeles Superior Court, the claims by Prudential and Nasseh alleges multiple causes of action against iPayment, including breach of contract claims, breach of the covenant of good faith and fair dealing, intentional misrepresentation, and intentional negligence, among others.

It further alleges that iPayment has failed to pay Nasseh and Prudential approximately $35,000 per month in residuals since March 2013, and that iPayment has failed to pay Nasseh approximately $750,000 in commissions and bonuses for the time he served as the Vice President of Sales at iPayment.

Nasseh resigned on November 1st, 2012.

Earlier in the year Attorneys for Prudential and Mr. Nasseh attempted to question iPayment’s former Senior Vice President of Sales Nasir Shakouri, and its former Vendor Success Marketing Solutions, Inc., and its CEO Rahul Alim, however, both individuals asserted their right against self-incrimination (5th amendment) privilege when questioned by Prudential’s Attorneys. Prudential and Nasseh are represented by Sagar Parikh of Beverly Hills Law Corp, PC.

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Natalee Harter
Finical, Inc.
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