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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minuteThe lawsuit produced a mixed jury verdict, not a finding that De Tomaso committed fraud—and the available court and corporate records do not show that it derailed the company’s comeback. Former CEO Ryan Berris won $540,502.36 on a quantum meruit claim, while De Tomaso won $129,069.36 on its fiduciary-duty counterclaim. Separately, De Tomaso’s business combination with OIO Group closed in April 2026.
What happened in the De Tomaso lawsuit?
The case was Berris v. Choi, brought by Ryan Berris, De Tomaso’s former chief executive officer and chief marketing officer. The dispute centered on why Berris left the company and whether either side owed the other money or had caused reputational harm.
In a September 4, 2025 summary-judgment opinion, U.S. District Judge Arun Subramanian described opposing accounts. Berris said he was forced out after raising concerns about alleged fraud and mismanagement; De Tomaso founder Norman Choi said Berris resigned after squandering company resources. Berris also alleged that Choi and Genesis Unicorn Capital Corp., a special-purpose acquisition company (SPAC), had arranged for De Tomaso to become Genesis’s acquisition target and that he was forced to resign after objecting to allegedly false statements to SPAC investors. Those were allegations and competing positions, not findings that fraud occurred. Read the 2025 summary-judgment opinion.
The judge granted Choi and De Tomaso summary judgment on some claims and denied it on others; Genesis and its chief financial officer, Samuel Lui, received summary judgment. Claims that continued against De Tomaso included Berris’s contract claim and alternative equitable claims. Berris’s defamation claim against Choi and De Tomaso and De Tomaso’s fiduciary-duty counterclaim also proceeded to trial.
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Did the jury find De Tomaso liable?
The 2026 jury verdict was mixed. It found for the defendants on Berris’s contract and defamation claims and rejected his attempt to hold Choi liable as an alter ego. It found for Berris on quantum meruit, an equitable claim for the value of services, and awarded him $540,502.36.
The jury also found for De Tomaso on its fiduciary-duty counterclaim against Berris and awarded the company $129,069.36. These are separate awards on different claims; the verdict was not a single net damages figure. The July 27, 2026 post-trial opinion denied Berris’s request to overturn the fiduciary-duty verdict and his request for an equitable award for unjust enrichment. The court granted prejudgment and post-judgment interest at the statutory rate. Read the July 2026 post-trial opinion.
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In upholding the fiduciary-duty verdict, the judge said the jury had evidence concerning expense reimbursements and an unpaid apartment “loan” that could support its decision. That describes evidence the court considered sufficient to sustain the verdict; it should not be read as a separate finding that every allegation made during the dispute was proven.
What does the OIO transaction mean for De Tomaso?
OIO Group reported that its business combination with De Tomaso Automobili Holdings Limited closed on April 24, 2026, and that De Tomaso became an OIO subsidiary. OIO said its ordinary shares began trading on the Nasdaq Capital Market under ticker OIO that day, following a 1-for-3 reverse split. The company’s April 27 Form 6-K describes the closing as a completed transaction; it does not establish that De Tomaso’s commercial revival will succeed. Read OIO Group’s Form 6-K.
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In the filing, OIO reported 348,022,108 ordinary shares outstanding immediately after the transaction and reverse split. It said former De Tomaso shareholders held approximately 95.8% of the shares and Choi approximately 67.6%, subject to the filing’s assumptions and exclusions for securities not exercised or converted. These are post-closing figures, not confirmation of current ownership.
OIO said it intended to reconstitute its board and make senior management changes after filing its fiscal-year 2025 annual report. Its press-release exhibit described the transaction as a “platform for growth” and “transformational”; those are the company’s characterizations, not independently established outcomes. The same filing identifies integration, liquidity, capital-markets access, listing compliance and future strategy as risks.
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What is known about Carmen Jorda’s separate case?
Carmen Jorda’s lawsuit is distinct from Berris’s case. On May 2, 2025, the U.S. District Court for the Southern District of New York granted motions by Choi and De Tomaso to dismiss without prejudice and allowed limited discovery into whether the court had jurisdiction over them. The docket record reviewed shows later activity through October 2025 but does not establish the case’s ultimate disposition. It is therefore not possible to say from that record whether the case concluded or remains active. See the May 2025 order and docket listing.
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