Judge Rules for Shakey's Pizza Franchisees in Bond Hearing
Los Angeles-On December 12, a Los Angeles Superior Court judge ruled against Chin Yong Wong, chairman of the board of directors of Shakey's Inc. and managing director of Inno-Pacific Holdings Ltd., in a motion seeking a bond of $838,000 representing Wong's estimate of costs he would incur to defend himself against claims of fraud and negligent misrepresentation brought against him by 39 Shakey's franchisees.
According to a news release issued by the Shakey's Franchised Dealers Association (SFDA), Wong and Shakey's Inc. are defendants in an action brought late 2002 by franchisee plaintiffs, who are seeking as much as $15 million in damages. The case is set for trial on March 24, 2004. -PizzaMarketplace.com