We represented an investor in a private offering. In the case, we alleged, among other things, that the company and its founder engaged in securities fraud and breach of fiduciary duty in connection with the solicitation of our client’s investment money. We obtained a significant judgment against the company and the founders.
We represented a group of board members in a large securities fraud case in Dallas involving a $25,000,000 private offering of stock in an alternative energy company. Our clients were a group of investors who had obtained a seat on the board as a result of their large investment. We resolved the case in mediation with our clients being absolved of liability and contributing $0 to the ultimate settlement. Subsequent to this case, we obtained a sizable judgment against one of the founders of the company for breach of fiduciary duty in connection with this transaction.
We represented a former partner in a steel company who had sold his interest to his partner for a substantial sum. Our client alleged that, prior to the buyout, his former partner had failed to advise our client of a business opportunity that would have substantially increased the buyout amount. We sued the former partner and the company for securities violations and breach of fiduciary duty. This case was settled for a confidential amount after the deposition of the former business partner’s forensic accountant.
We represented an individual who made claims against an individual broker and a large, nationally known brokerage firm who employed the broker for churning, improper allocation of assets and unauthorized trades, among others. The majority of the unauthorized trades occurred while our client was on vacation and out of communication with the broker. The trades resulted in significant losses to the client’s portfolio. Our client alleged the trades were both unauthorized and inappropriate for him and the trades resulted in a substantial loss in a very short period of time. The case was confidentially resolved after limited discovery was conducted in the arbitration proceeding.
We represented an individual who had invested several million dollars in a complex securities product that resulted in substantial losses to the client. Our client alleged that the product was inappropriate for her, was not fully explained and, further, that the investment management company failed to place appropriate hedges in place to prevent a substantial loss in principal in less than six months. In this case, we pursued a large, nationally known brokerage company to recoup the losses incurred by the client. The case was confidentially resolved after mediation.
Negligent Management of Guardian Account
We negotiated a substantial confidential settlement on behalf of the guardian of a man who had been severely injured in a helicopter accident in 1983. The guardian had settled the ward’s claims arising from the accident and then invested the settlement proceeds with a bank which mismanaged the funds, thereby resulting in a significant loss of funds to be used for the benefit of the injured man.
Trustee of Lottery Winner Trust Sued Prior Trustee, Son of Lottery Winner, for Breach of Fiduciary Duty
We negotiated a substantial settlement for the trustee of a trust who sued the former trustee for spending millions of dollars of the lottery winner’s winnings while he was in charge of the trust. Our client contended that the money was spent solely for the benefit of the former trustee who was the son of the lottery winner