NWA Settles $45 Million Claims Against Sphere 3D On A Walk-Away

We are proud to report that NWA settled breach of contract claims seeking $45 million brought against client Sphere 3D by its former merger partner Gryphon Digital in the Southern District of New York on a walk-away.  NWA previously secured the dismissal of defamation, negligence, implied covenant, and certain other breach of contract claims that purported to seek hundreds of millions of dollars in damages. On behalf of Sphere, NWA had also brought a claim for conversion against Gryphon that led to the return of Sphere’s assets.

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The settlement resolves the last of several major disputes that Sphere was facing and frees the company to focus on its core business.  On behalf of Sphere, NWA previously successfully defended the company’s incumbent directors in a proxy fight and secured an eight-figure settlement in an adversary proceeding against Core Scientific in the Bankruptcy Court for the Southern District of Texas.

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The NWA team included partners Tibor Nagy and Greg Wolfe and associates David Moosmann and Jacob Goldenberg.

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