iFunding Settles Turner Suit for All Cash

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iFunding announced that the company has settled the lawsuit with Michael J. Turner for all cash and the release of all claims against the company and CEO, William C. Skelley

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.

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Michele Kelley
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