Ontario court denies Extreme Venture Partners appeal in ongoing Tinder case
Summary
Following a decision earlier this month that sided with Sharma, Teslia, and Bashir – with Madra, Varma, and Palihapitiya having to pay out $15.69 million USD in damages – a separate decision delivered Tuesday by the Court of Appeal for Ontario sided against the three partners. Since no negligence claim can succeed in the absence of a duty being owed, this finding is sufficient to grant summary judgment in favour of Seven Hills.” The plaintiffs appealed the decision, but Tuesday’s ruling sided with the original judge. “In these circumstances, it is not apparent to us that it would be appropriate to make an order that would require another trial.” The recent decision comes as the larger case continues to role through the courts. After the May 14 decision that ruled Madra, Varma, Palihapitiya owed $15.69 million USD for conspiring to acquire Xtreme Labs at a discounted price, in addition to breaching contractual obligations, the defendants stated plans to appeal the decision. BetaKit has reached out to both parties for comment on the case but had yet to hear back by the time of publication.