What was Dominic Rubino required to do with his shares of FocalPoint International as part of the settlement agreement?
Focalpoint_Coaching Franchise · 2025 FDDAnswer from 2025 FDD Document
Filed: February 15, 2018.
These are related actions. For the US/Nevada matter, on February 8, 2018, FocalPoint International filed a lawsuit against Dom Rubino Consulting Services Inc. and BizStratPlan, Inc. ("Defendants") seeking declaratory relief related to a Consulting Agreement, a Loan Agreement, and a Cash Advance Agreement. The claims related to alleged outstanding amounts that Defendants claims were owed. On May 22, 2018, Defendants filed counterclaims alleging breach of those same agreements. On June 20, 2018, FocalPoint International filed claims against Dominic Rubino, individually, for breach of fiduciary duty related to Mr. Rubino's role as officer and director of FocalPoint. For the Canadian matter, on February 15, 2018, Defendants filed a lawsuit against FocalPoint International asserting claims of breach of contract related to a Consulting Agreement, a Loan Agreement, and a Cash Advance Agreement. The claims also related to same alleged outstanding payments at issue in the US/Nevada matter. On February 15, 2019, the parties entered into a settlement agreement and mutual release settling both related matters, and as part of that resolution, the Canadian matter and the Nevada were dismissed with prejudice. Under the settlement agreement, FocalPoint International agreed to pay BizStratPlan, Inc. $400,000 in installments pursuant to a promissory note, Dominic Rubino agreed to transfer all of his outstanding shares of FocalPoint International to FocalPoint International upon completion of the payments, and the parties agreed to release e
Source: Item 3 — Litigation (FDD pages 11–12)
What This Means (2025 FDD)
According to FocalPoint Coaching's 2025 Franchise Disclosure Document, a settlement agreement was reached on February 15, 2019, to resolve related legal actions between FocalPoint International and Dom Rubino Consulting Services Inc. As part of this agreement, Dominic Rubino was required to transfer all of his outstanding shares of FocalPoint International to FocalPoint International upon completion of payments outlined in the settlement. FocalPoint International, in turn, agreed to pay BizStratPlan, Inc. $400,000 in installments via a promissory note. The parties also agreed to release each other from all claims. The Canadian matter and the Nevada matter were dismissed with prejudice.
This settlement resolves a legal dispute involving claims and counterclaims related to consulting, loan, and cash advance agreements. The resolution involved a financial payment from FocalPoint International, the transfer of shares from Dominic Rubino, and a mutual release of claims. For a prospective FocalPoint Coaching franchisee, this concluded litigation indicates a past dispute with a former officer and director, Dominic Rubino, that has been resolved through a settlement agreement.
The settlement's terms, including the transfer of shares and the payment of $400,000, suggest that the dispute was significant enough to warrant a substantial resolution. The dismissal of the cases with prejudice means that the claims cannot be brought again in court. This resolution could be seen as a positive sign, indicating that FocalPoint Coaching has addressed and resolved a potentially disruptive legal issue, allowing them to focus on their franchise operations. However, prospective franchisees may want to inquire about the nature of the original dispute and the potential impact it had on the company's operations and reputation.