FRESNO — A Fresno County woman is suing a former business partner, alleging corporate theft and fraud.
Sheryl Fronda filed a complaint Dec. 4 in Fresno County Superior Court against Jeremy Thornton and Does 1 through 10, alleging the defendants breached an agreement by looting the only asset of the Iron Panther trademark and transferring it into his name.
According to the complaint, in March 2015, Fronda entered into agreement with Thornton whereby she would invest approximately $180,000 in the Iron Panther manufacturing business owned by Daryl Olson. In return, the suit says, she would own 50 percent of the Iron Panther trademark.
The lawsuit states Fronda and Thornton would each be 50 percent owners of the company and would form a new corporation called Iron Panther Trailers inc. After the transfer had been made, Fronda says, the business was not transferred to her name and she did not received her 50 percent of any and all profits.
The plaintiff alleges Thornton fraudulently transferred ownership of the trademark to his name personally, hijacked the trademark and refused to return the Iron Panther Trailers Inc. to the other business partner and refused to provide any funds related to the use of the trademark.
Fronda seeks trial by jury, preliminary and permanent injunction, restitution and disgorgement of all ill-gotten gain, damages of no less than $25,000, prejudgment interest, court costs and all other relief the court deems just and proper. She is represented by attorney Nathan S. Miller of Miller & Ayala LLP in Fresno.
Fresno County Superior Court case number 17CECG04154