![]() ![]() Muratore were long-standing partners and owners of Yankee Spirits and ran the company for almost 20 years, according to court documents. His father denies this.īefore April 2002, Donald Cimini and Michael A. Praised as a “forward-looking beverage mogul of easy modesty and resolute conviction” and named last year’s “beverage dynamics’ Retailer of the Year” by a trade publication, Michael Cimini claims he bought the capital stock of Yankee Spirits through YSI Acquisition Corp. When called by a reporter for comment on the litigation, Donald Cimini abruptly hung up the phone before he could be asked for comment. ![]() In addition, the father claimed he is the majority shareholder in Yankee Spirits and his son had committed fraud. Cimini argued that his son is not the sole owner of Yankee Spirits. Three weeks after the lawsuit was filed, the father answered his son’s claim by filing a counterclaim. ![]() The lawsuit claimed Michael as the sole owner of Yankee Spirits and the sole trustee and beneficiary of YSI Business Trust, which is the sole owner of Yankee Spirits.Īccording to the complaint, Michael Cimini is the president, treasurer and a director of Yankee Spirits, while Donald Cimini is secretary and a director of Yankee Spirits and has no ownership interest in YSI Business Trust or Yankee Spirits. 3, 2008, in Worcester Superior Court by Michael Cimini against his father. Fitzgerald, representing Yankee Spirits, called the business transaction “just a change of ownership.” The legal sparring began with a complaint filed on Oct. Suhoski, town administrator, confirmed that the deal is worth $5 million to Michael Cimini. However, he is happy with the “mutually agreed sum” in the deal. He did not want to comment on the litigation. Cimini” will be dismissed, Michael Cimini said. If approved, litigation titled “Michael D. In addition, the father will become president, treasurer, secretary and director of Yankee Spirits and Mr. Cimini, 68, of East Longmeadow, and several partners, David Cummings of Taunton, James Juliano of North Attleboro and Thomas Tesauro of Cohasset. Cimini, 40, of 8 Sidney Road, Sturbridge, will give up all of his interest in the company to his father, Donald F. In addition to approval from Sturbridge, Attleboro and Swansea (all homes of Yankee Spirits retail stores), the proposed agreement needs approval from the state Alcoholic Beverages Control Commission. Yankee Spirits recently asked selectmen for approval for the transfer of stock, naming of new officers and directors, change of manager and pledge of license and stock. ![]() In the dispute, in which father and son filed lawsuits against each other, the father accused his son of “false and material misrepresentations,” “fraudulent conduct” and having no intention of following through on their original business deal. But a $5 million deal may bring an end to the litigation between father and son, though not necessarily the bad feelings. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile.Īs a matter of policy, BBB does not endorse any product, service or business.Billed as having New England’s largest selection of beer, wine and spirits, Yankee Spirits has also been the home of family strife, which has been brewing for at least a year and a half.įather and son have been bitterly butting heads since October 2008 over ownership and control of the company, according to records in a pending lawsuit in Worcester Superior Court. BBB Business Profiles are subject to change at any time. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.īBB Business Profiles generally cover a three-year reporting period. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. BBB Business Profiles may not be reproduced for sales or promotional purposes.īBB Business Profiles are provided solely to assist you in exercising your own best judgment. ![]()
0 Comments
Leave a Reply. |
Details
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |