KAABOO festival investor Marc Hagle wins a $2 million judgement in a breach of contract case.
An eccentric Florida real estate mogul who lost millions investing in two West Coast festivals linked to Virgin Group co-founderwon a bittersweet legal victory Friday when a Delaware judge awarded him a $2 million breach of contract verdict over the collapse of KAABOO festival — but rejected larger fraud claims that could have netted him millions in damages.
and are currently constructing a massive $33 million, 45,000-sq.-ft home in Winter Park, Fla., that will include a basement gun range and an indoor pool. While the last-minute acquisition averted cancellation, it wasn’t long before both sides ended up in court, kicking off a five-year legal battle over the sale of KAABOO, which has been defunct ever since.
Wallace wrote that “KAABOO management made knowingly false representations” to Hagle and his attorneys and accused Gordon, Wolkov and Walker of “deliberate acts of concealment” and having “a clear motive to commit fraud.”
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