Disruptive CEO Alex Davis Wins Important Court Ruling in His Action Against Kenneth Rickel | Business

By Editor On Oct 5, 2021

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AUSTIN, Texas – (BUSINESS WIRE) – Nov. October 2021–

Disruptive Founder and CEO Alex Davis has won a major court ruling against Kenneth Rickel who attempted to extort millions of dollars from Davis based on an intentionally skewed interpretation of a settlement agreement the parties signed in 2014.

The simple judgment of the Los Angeles County Superior Court found that Rickel was only entitled to the profits from a disruptive fund through the settlement agreement, which is intended to invest exclusively in a specific company – and not on a portion of Davis’ entire disruptive business, which consists of a variety of assets, as Rickel falsely claimed, for the rest of Davis’ life.

Davis went from an early business deal with Rickel more than eight years ago after learning that Rickel had been sanctioned by the SEC for illegal short selling, and built a hugely successful business. Sadly, months after Davis’ brother’s tragic death, Rickel, who is married to Davis’ mother, Nancy Davis, attempted to gain an unjustified stake in Davis’ business by threatening to file a defamatory lawsuit claiming he was responsible for his stepson’s success. Now Rickel, who was sanctioned by the SEC for violating securities laws, is left with only what was written in the original settlement agreement, while Davis got off the trumped-up lawsuit Rickel hatched in a shameful hunt for profits he didn’t deserve , is confirmed.

Alex Davis is represented by Matthew S. Dontzin and David A. Fleissig of Dontzin Nagy & Fleissig.

“This is an important ruling for Alex Davis that fully confirms his position during this dispute – that the 2014 Settlement Agreement only gave Mr. Rickel an interest in a single fund – and not an interest in Disruptive or any of Davis’ other current ones or future companies. Mr. Rickel was unfortunately trying to capitalize on his stepson’s success, “said Matthew S. Dontzin, Davis attorney

With this legal win, Davis looks forward to leaving this unfortunate family affair behind and will continue to focus on building on the success of Disruptive and continuing the legacy of his grandfather, Marvin Davis, from whom he learned hard work, business acumen, industry upheavals and philanthropy.

About disruptive

Disruptive is a global technology investment company based in Austin, TX. Founded in 2012 by CEO Alex Davis, Disruptive – formerly known as DTA – has deployed billions of dollars in the private sector investing in high-performing, late-stage private technology companies. Mr. Davis built the company to encompass multiple lines of business, including personal investment, investment banking, business development, lending, and more, to provide a full range of services to the late (and often earlier) private technology companies.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211005005866/en/

Disruptive@dkcnews.com

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Disruptive

PUB: 10/5/2021 10:42 AM / DISC: 10/5/2021 10:42 AM

http://www.businesswire.com/news/home/20211005005866/en

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