Defendant/Cross-Complainant Maziar Farzam’s motion to dissolve the preliminary injunction is GRANTED. The bond will be reduced by $50,000.00.

This suit arises from a series of lawsuits concerning the control and business dealings of Plaintiff Inhance Digital Corporation (“Inhance”). On June 24, 2019, Inhance initiated this action against Defendant Maziar Farzam (“Maziar”), one of the founders/officers/shareholders of Inhance. The First Amended Complaint (“FAC”) states three causes of action against Maziar for 1) breach of fiduciary duties; 2) breach of contract; and 3) accounting.

On April 29, 2019, Maziar filed a cross-complaint against Cross-Defendant Penn Arthur (“Arthur”), the other founder of Inhance, and Ari Kaplan (“Kaplan”), a former officer and shareholder. The operative Cross-Complaint (“CC”) states 13 causes of action, including fraud, breach of contract, and breach of fiduciary duties.

On February 10, 2020, Maziar filed the in........