Monster Energy Company v. City Beverages, LLC et al

Filing 59

JUDGMENT CONFIRMING ARBITRATION AWARD by Judge R. Gary Klausner. The Court hereby enters judgment. See Order for specifics. (ah)

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1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 CENTRAL DISTRICT OF CALIFORNIA 10 EASTERN DIVISION 11 MONSTER ENERGY COMPANY, fka Hansen Beverage Company, 12 Petitioner, 13 v. 14 CITY BEVERAGES, LLC d/b/a 15 OLYMPIC EAGLE DISTRIBUTING, 16 Case No. 5:17-CV-00295-RGK-KK JUDGMENT CONFIRMING ARBITRATION AWARD Judge: Hon. R. Gary Klausner Respondent. 17 18 19 20 21 22 23 24 25 26 27 28 P:01120308:07565.332 5:17-CV-00295-RGK-KK JUDGMENT 1 On March 3, 2017, petitioner Monster Energy Company (“Monster”) filed in 2 the present action a petition (Dkts. 9 and 11) (the “Petition”) asking the Court to: (1) 3 confirm the Interim Award, dated November 14, 2016, and the Arbitrator’s Award 4 of Attorney Fees and Costs, dated January 24, 2017 (collectively, the “Arbitration 5 Award”) issued by Hon. John W. Kennedy, Jr. (Ret.), (2) enter judgment against 6 respondent City Beverages, LLC, dba Olympic Eagle Distributing (“Olympic”) on 7 the Arbitration Award, and (3) award post-arbitration attorneys’ fees to Monster as 8 the prevailing party in this action. On March 17, 2017, Olympic filed a Cross9 Petition to Vacate the Arbitration Award (Dkt. 23) (the “Cross-Petition”). 10 On May 9, 2017, this Court, having considered the Petition, the Cross- 11 Petition, and the related papers filed in support of and in opposition to the foregoing, 12 issued an Order GRANTING in part the Petition and DENYING the Cross13 Petition. (Dkt. 46.) 14 On May 16, 2017, Monster filed a noticed motion seeking an award of its 15 attorney fees and costs incurred as the prevailing party in this action to confirm the 16 Arbitration Award (the “Fee Motion”). Having considered the Fee Motion and the 17 related papers filed in support of and in opposition to thereto, the Court issued an 18 order GRANTING Monster’s Fee Motion. The Court hereby ENTERS 19 JUDGMENT as follows: 20 1. The Arbitration Award, attached as Exhibit 1, is confirmed, as 21 authorized by Section 9 of the Federal Arbitration Act; 22 2. Judgment is entered for Petitioner Monster Energy Company and 23 against Respondent City Beverages, LLC d/b/a Olympic Eagle Distributing, in the 24 following amounts: 25 a. $476,076.32, representing the $3,000,000 principal amount 26 awarded to Monster in the Arbitration Award, reduced by Olympic Eagle’s 27 satisfaction of $2,523,923.68, by way of offset, on May 10, 2017; plus 28 b. P:01120308:07565.332 $87,123.29, representing post-Award prejudgment interest on the -2[PROPOSED] JUDGMENT 5:17-CV-00295-RGK-KK 1 full amount of the Arbitration Award, at the California statutory rate of ten percent 2 per annum ($821.92 per diem), for each day from January 24, 2017, through May 3 10, 2017 (the date of the $2,523,923.68 satisfaction); plus c. 4 $9,130.10, representing post-Award prejudgment interest on the 5 $476,076.32 remaining balance of the Arbitration Award following the 6 $2,523,923.68 satisfaction, at the California statutory rate of ten percent per annum 7 ($130.43 per diem), for each day from May 10, 2017, through the date of entry of 8 this Judgment; plus d. 9 $257,442.00 as and for Monster’s attorneys’ fees and costs 10 reasonably incurred in prevailing in this action; 11 3. This Judgment shall bear post-judgment interest until paid, at a rate of 12 1.22 percent per annum, which is equal to the weekly average 1-year constant 13 maturity Treasury yield, as published by the Board of Governors of the Federal 14 Reserve System, for the calendar week preceding the date of the Judgment. 15 16 DATED: July 19, 2017 17 18 Hon. R. Gary Klausner United States District Judge 19 20 21 22 23 24 25 26 27 28 P:01120308:07565.332 -3[PROPOSED] JUDGMENT 5:17-CV-00295-RGK-KK

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