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Vax Immune Leonard Weisman's has been served a lawsuit on the heels of a prior lawsuit where his son-in-law, Joaquin Altenberg, was made liable to pay $1.72 million in legal fees for egregious fraud and misrepresentation with an additional $5,556,197 in damages according to JoaquinAltenberg.info. It is alleged that money was illegally transferred to Leonard Weisman.

The decision let stand findings by the vice-chancellor that proceedings against Joaquin Altenberg and Vert Solar Finance LLC “proved that Altenberg breached his fiduciary duty of loyalty” while managing a development fund — Vert Solar Fund I LLC — for midsized solar power projects. He also was found to have “engaged in self-interested transactions, and failed to prove that his actions were entirely fair.”

The 11th District Court in Harris County, Texas, entered an order (“Receivership Order”) in May of 2021 appointing Travis Vargo as a receiver to collect a judgment against Joaquin Altenberg. The Court further ordered Joaquin Altenberg to turn over all of his non-exempt assets and provided for a charging order requiring any limited liability company served with the Receivership Order to pay any distributions due to Altenberg to Mr. Vargo.

Mr. Altenberg previously testified under oath that he was a “significant owner” of Vax Immune. Several Vax Immune documents have also named Mr. Altenberg as CEO, CCO, and CFO. Vax Immune later disputed these claims. As a result, Vargo seeks a declaration from the Court establishing Altenberg’s membership in Vax Immune.

Mr. Vargo has sued Vax-Immune, alleging Altenberg might own a membership interest in Vax-Immune, and has asked the court to declare the ownership composition of Vax-Immune. In addition, Mr. Vargo has brought a quantum meruit claim against Vax-Immune, seeking monetary compensation.

As Vax-Immune’s founder and President, Leonard Weisman has repeatedly testified under oath that Altenberg allegedly did not presently own, nor has ever owned, a membership interest in Vax-Immune. Likewise, Altenberg has repeatedly stated under oath that he has never held an interest in Vax-Immune. Altenberg also stated he is not owed any compensation from Vax-Immune, nor does he intend to seek any such compensation from Vax-Immune.

Despite this, Vargo has filed a lawsuit and has asked the Court to declare “the ownership composition of” and/or “the member interests in” Vax-Immune. To avoid acknowledging Mr. Altenberg is an owner of Vax Immune, Vax Immune claims that Mr. Altenberg provided his leadership services for a low or reduced compensation. It is further alleged that Mr. Altenberg provided valuable services to Vax Immune, who accepted them and had reasonable notice that Mr. Altenberg expected compensation for the services.

Accordingly, Plaintiff Travis Vargo, as receiver, has requested that Vax Immune be cited to appear and that Vargo has a judgment against Vax Immune for the following:

• Declaratory relief establishing the member interests in Vax Immune
• Actual damages
• Special, consequential, and incidental damages based on the allegation of actual damages above
• Reasonable and necessary attorneys’ fees
• Prejudgment interest at the maximum rate of interest permitted by law, as pleaded more specifically above
• Costs of suit
• Post-judgment interest, at the maximum legal rate permitted by law; and
• Such further relief, both general and special, at law or in equity, to which the Plaintiff may show himself to be justly entitled.

The USA Herald will continue to cover this case and future litigation around it.