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FLORIDA RECORD

Friday, November 8, 2024

Plaintiff Alleges Former Business Partners Ousted Him Illegally

State Court
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In a gripping legal battle that could reshape the landscape of business partnerships, a Palm Beach County man has filed a lawsuit against his former associates, accusing them of deceit and betrayal. On June 10, 2024, Wilfredo Perez-Borroto filed a complaint in the Circuit Court of the 15th Judicial Circuit in Palm Beach County, Florida, against JP Global Management, LLC (JPGM), Jonathan Price, Lisa Price, Joseph Peduzzi, and Erin Peduzzi.

Perez-Borroto alleges that these individuals conspired to oust him from Absolute Security Professionals, LLC (d/b/a A Security Pro), a security business he helped build from the ground up. According to the complaint, Perez-Borroto's involvement was pivotal; not only did he bring his licensure and reputation to the table but also generated millions of dollars in contracts for the company. The lawsuit claims that JPGM holds a majority stake of 66.66% in the company while Perez-Borroto owns 33.33%.

The plaintiff contends that despite his significant contributions and minority ownership, JPGM unilaterally removed him as manager without prior notice or just cause. This sudden expulsion was allegedly orchestrated by Jonathan and Lisa Price along with Joseph and Erin Peduzzi to financially cripple Perez-Borroto and seize control of his shares. "They all played a role in trying to oust Perez from the business and keep his shares—all to line their own pockets with the clients secured by Perez himself," reads an excerpt from the complaint.

Perez-Borroto is seeking damages exceeding $50,000 along with injunctive relief. He asserts that JPGM's actions constitute breaches of fiduciary duties as defined under Florida Statutes §§605.04091 and 605.0801. Furthermore, he accuses Jonathan Price, Lisa Price, Joseph Peduzzi, and Erin Peduzzi of aiding and abetting these breaches. "This contumacious behavior cannot be tolerated," insists Perez-Borroto in his filing.

The plaintiff also seeks declaratory judgment affirming his status as a member of A Security Pro amidst conflicting claims by JPGM regarding his ownership interest. Additionally, he demands court-ordered inspection of company records pursuant to Fla. Stat. § 605.0411 after an unsatisfactory response from JPGM's counsel regarding earlier requests for documentation.

Represented by Adrian J. Alvarez from De Biase | Alvarez law firm based in Boca Raton, Florida, Perez-Borroto is determined to reclaim his position within A Security Pro and hold those responsible accountable for their alleged misconduct.

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