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Vellardita resigned from ValCom in 2012 amid a power struggle between himself and members of the company's board. The Boonton, N.J.-based company, which owns the faith-based MyFamilyTV network along with film, television and music libraries, later sued him and others in New Jersey federal court over a litany of alleged misdeeds.

Those include Vellardita's purported self-dealing, use of ValCom funds to pay personal legal bills, and usurping of corporate opportunities. ValCom also accuses the former CEO of entering into a scheme with other defendants that would enable them to take over the company's board in violation of law in Delaware, where ValCom is incorporated.

Ex-Director Frank O’Donnell and Vellardita’s wife, Teresa Vellardita, were among others also named in the complaint.

In April, Judge Walls dismissed racketeering charges from the suit, saying that neither Vincent Vellardita nor his co-defendants could be held liable under the Racketeer Influenced and Corrupt Organizations Act, a federal statute used to fight organized crime. The judge found ValCom failed to plausibly suggest the existence of an enterprise structure characterized by “some mechanism for controlling and directing the affairs of the group on an ongoing, rather than ad hoc, basis.”

But most of ValCom's other charges survived the defendants’ challenge, including common-law fraud claims against Clavijo and O’Donnell, and charges that O’Donnell, Vellardita and his wife breached their fiduciary duty to ValCom.

Judge Walls noted that ValCom presented enough evidence for its charges of civil conspiracy to defraud the company and divert its assets continue, and that ValCom adequately pled its case that Vellardita and his wife tortiously interfered with ValCom’s business prospects.

On Tuesday, the judge also tweaked a dismissal of a count of breach of the covenant of good faith and fair dealing by Vellardita, modifying that toss to be without prejudice.

Attorneys for the parties did not respond Tuesday to requests for comment.

ValCom is represented by Neal H. Flaster of Neal H. Flaster LLC.

The defendants are represented by John G. Balestriere, Stefan Savic and Roberto Cuan of Balestriere Fariello & Abrams LLP.

The case is ValCom Inc. v. Vellardita et al., case number 2:13-cv-03025, in the U.S. District Court for the District of New Jersey.

--Additional reporting by Ed Beeson. Editing by Richard McVay.