New York, New York (PRWEB) August 31, 2016
iFunding has settled the lawsuit filed by Michael J. Turner in Delaware State Court (Case No. 11916-VCMR) for $150,000 and the release of all claims against the company and William C. Skelley. The suit alleged that iFunding’s co-founders William Skelley and Sohin Shah (who has since left the Firm) violated their operating agreement, and sought the “dissolution of iFunding and an appointment of a liquidation trustee.” According to court documents, Turner also wanted monetary damages and a court order mandating the purchase of his 20-percent stake.
William Skelley, Founder & CEO of iFunding stated, “On behalf of the company and myself, we are glad to get this suit behind us and for reasonable terms.”
Innovational Funding LLC (“iFunding”) is a leading commercial real estate investment platform aggregating investor capital to provide equity and debt financing to owners, developers, and fund managers, leveraging technology and a full-service online platform. Accredited investors can register on our website to review our curated online investment marketplace, which includes investment positions in all asset classes and throughout the capital stack.