Microbot Medical, Inc. v. Joseph Mona
- George Daniels
- 1:19-cv-03782
- U.S. District Court · Southern District of New York
- 6
In Microbot Medical v. Joseph Mona, Magistrate Judge Lehrburger recommended interest from August 22, 2023, at 5.36%, not March 31, 2021.
Microbot Medical, Inc. and Joseph Mona, because the recommendation would determine the start date and rate for interest on the $484,614.30 judgment.
What happened
Microbot Medical, Inc. v. Joseph Mona involved a dispute over when interest should begin on a $484,614.30 judgment against Mona. Mona argued that interest should run from March 31, 2021, at 0.07%; Microbot argued for August 22, 2023, at 5.36%. The difference affected the amount of interest owed.
The report explained that Microbot could not enforce the 2021 judgment while Mona’s counterclaims remained unresolved. Mona had successfully obtained a stay of enforcement and argued that the damages amount was not final until those counterclaims were decided. After the counterclaim was dismissed on August 22, 2023, the judgment became enforceable.
Magistrate Judge Robert W. Lehrburger recommended awarding post-judgment interest beginning August 22, 2023, at 5.36%. The recommendation was subject to written objections and review by District Judge George B. Daniels.
The detailed version
- Microbot Medical, Inc. v. Joseph Mona · No. 1:19-cv-03782
- George Daniels
- Aug. 26, 2025
Background
Microbot Medical sued Joseph Mona under Section 16(b) of the Securities Exchange Act of 1934, alleging that Mona had to return profits from certain securities transactions. On March 30, 2021, the court granted Microbot judgment on the pleadings, and on March 31, 2021, judgment was entered against Mona for $484,614.30.
Mona later moved to stop enforcement of that judgment, arguing that it was not final because his counterclaims had not been resolved. The court granted Mona’s motion and stayed enforcement. On August 22, 2023, the court dismissed Mona’s counterclaim with prejudice and entered a judgment reflecting that dismissal. A writ of execution was later issued for the $484,614.30 judgment. After additional proceedings and an appeal, Mona’s appeal was denied, and the bond he posted was paid to Microbot on March 14, 2025.
Dispute over interest
Federal law requires interest on a judgment from the date of entry, using the applicable Treasury-yield rate. The parties disagreed about which judgment controlled. Mona argued that interest should be calculated from the March 31, 2021 judgment at 0.07%, producing an amount of about $1,358.35. Microbot argued that interest should begin on August 22, 2023, at 5.36%, producing approximately $42,042 through the March 14, 2025 payment date.
Analysis
The report concluded that the relevant date was August 22, 2023. It reasoned that Microbot did not have an enforceable judgment before that date because Mona had successfully stopped enforcement of the 2021 judgment while his counterclaims were pending. Mona had also argued that the damages amount could not be meaningfully determined until those counterclaims were resolved. Once the counterclaim was dismissed, the $484,614.30 judgment became enforceable.
Recommendation and review
Magistrate Judge Robert W. Lehrburger recommended that Microbot receive post-judgment interest beginning August 22, 2023, at a rate of 5.36%. The report and recommendation allowed the parties 14 days to file written objections, followed by 14 days to respond to objections. The opinion states that untimely objections would waive the right to object and preclude appellate review. The report was directed to District Judge George B. Daniels for review.
Read the full 6-page opinion on CourtListener, the free public archive maintained by the Free Law Project.