| In
Trial on
Cambridge
Capital Claim
Ruby Has Broke
Deal Rafi
Crossed on
Mermenstein
Texts
by
Matthew Russell Lee, Patreon Book
Substack
SDNY COURTHOUSE,
Aug 8 – Private equity firm
Cambridge Capital thought it
had a deal to acquire 51% of
fulfillment company Ruby Has
in 2020, with warehouses in
Bayshore in New York, in Las
Vegas and elsewhere.
It fell
through, as Ruby Has talked
with Summit Partners then
tried to raise the price.
Cambridge sued.
On August
7, 2023, the civil jury trial
started before U.S. District
Court ofr the Southern
District of New York Judge
Lewis J. Liman. Inner City
Press was there, the only
media in the courtroom.
Cambridge
partner Dave Stubbs was on the
witness stand, describing his
volunteer work in Connecticut
prisons and his interactions
with Ruby Has.
When he said he'd not
good at PointPoint, a juror
smiled. Email after email went
in without objection.
Just
before trial on August 4 Judge
Liman endorsed that
plaintiff's damages at trial
shall be limited to the
claimed $405,000 in deal
expenses. There were six
lawyers at the defense
table.
On August 8,
Cambridge Capital's Benjamin
Gordon was on the stand, the
fingers of his hands touching
as he looked at the jury while
being cross-examined. He
disagreed that the deal had
not really been agreed, saying
that with the Muellers,
Phillip and Rafael Zakinov,
their word was their bond. But
the emails told another
story....
On August 9, Rafi
was on the stand, being cross
examined about his messages
with Esther Kestenbaum and Eli
Mermenstein. He was asked, So
you didn't tell Cambridge
Capital about your other
talks. He replied, You ask
that as if there's something
wrong with that.
The trial
continues.
The case is
Cambridge Capital LLC v. Ruby
Has LLC, 20-cv-11118 (Liman)
***
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