POSTED JANUARY 30, 2012 12:15 pm
Over the past week, numerous articles have emerged in the national media that Bravo and cast members of “The Real Housewives of Beverly Hills” worry they will be dragged into the $1.5 million breach of contract lawsuit brought by MyMedicalRecords.com, Inc. against Russell and Taylor Armstrong. According to Bob Lorsch, CEO of MyMedicalRecords.com, Inc., MyMedicalRecords.com has had nothing to do with any such rumors. It simply intends to continue litigating its claims against the Armstrongs in the case.
However, tomorrow, MyMedicalRecords.com, Inc. plans on filing a Right to Attach Order against Taylor Armstrong in an effort to reserve her assets for collection of an eventual judgment. While media reports have claimed Russell Armstrong, who committed suicide last summer, left Taylor broke, MyMedicalRecords.com, Inc. believes the opposite is true and is therefore bringing the order. MyMedicalRecords.com filed suit against both Russell Armstrong and Taylor Armstrong on July 29, 2011 seeking damages of $1.5 million on claims the couple breached a previous Settlement Agreement. In 2007, two years before MyMedicalRecords.com, Inc. went public, it was discovered that the Armstrongs had misappropriated investor money and diverted shares of the Company’s stock. Russell Armstrong, the largest shareholder at the time, was immediately removed from the board of directors and settled by giving up 100% of his equity position and payment of hundreds of thousands of dollars.
Under the terms of the Settlement Agreement, signed by both Russell and his wife Taylor, the Armstrongs were required to identify everyone to whom they had sold shares of privately held MyMedicalRecords.com. However, the Armstrongs failed to do so, and MMR filed a $1.5 million breach of contract suit. MyMedicalRecords.com, Inc. is interested in Taylor’s assets, income, book royalties, sponsor gifts, personal appearance fees and other income.
(Thanks to SH readers “CP” and “SL”!!)