Discover Growth Fund, LLC v. OWC Pharmaceutical Research Corp.

District Court, S.D. New York

Discover Growth Fund, LLC v. OWC Pharmaceutical Research Corp.

Trial Court Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK

ween nee ene ener OX DISCOVER GROWTH FUND, LLC, : : ORDER SUPPLEMENTING Plaintiff, : ORDER AND OPINION -against- : GRANTING MOTION FOR : DEFAULT JUDGMENT OWC PHARMACEUTICAL RESEARCH : CORP., : 20 Civ. 2857 (AKH) Defendant. :

wane ne eee een ne eee eee eeeeeneeeeee OX

ALVIN K. HELLERSTEIN, U.S.D.J.: On May 8, 2023, I granted Plaintiff's motion for default judgment, ECF No. 60, and instructed the Clerk to “enter judgment in Plaintiff's favor against Defendant in the amount of $6,827,989.72, plus interest.” ECF No. 63 at 8. I issue this supplemental order to clarify that the aforementioned interest is prejudgment interest calculated at the statutory rate of 9 percent from the date of the breach of contract, March 30, 2023, to the date of entry of final judgment. See ECF 63 at 2 (describing Defendant’s breach of contract); U.S. Naval Institute v. Charter Communications, Inc.,

936 F.2d 692

, 698 (2d Cir. 1991) (“a plaintiff who prevails on a claim for breach of contract is entitled to prejudgment interest as a matter of right.”); Schipani v. McLeod.

541 F.3d 158, 164-65

(2d Cir. 2008) (“In a diversity case, state law governs the award of prejudgment interest.”);

N.Y. C.P.L.R. § 5004

(Interest shall be at the rate of nine per centum per annum...”). SO ORDERED. / Dated: May 10, 2023 “™ ld mm” New York, New York y LVIN K. HELLERSTEIN United States District Judge

Reference

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