Verdict & Settlements

Business

• $2.4 million settlement in an ERISA case for 25 members of an employee stock ownership plan (ESOP) whose stock in the company was forcibly sold at less than fair market value by the trustees of the ESOP.
• $14.2 million federal court jury verdict, including $10 million in punitive damages, for 10 Midwest seed companies for breach of contract and fraud by a subsidiary of Royal Dutch Shell, the largest corporation in the world.
• $4.5 million settlement from a national accounting firm to Iowa bank who bought bonds in reliance on the firm’s financial information in an offering underwritten by a commodities brokerage.
• $1.7 million federal court jury verdict for breach of contract and slander against Washington National Insurance Company on behalf of a Sioux City insurance brokerage.
• $300,000 jury verdict for breach of verbal agreement for a business who sued the widow of its former president who named her, rather than the company as promised, as the beneficiary of an insurance policy on his life.
• Successful defense of breach of exclusive intellectual property license agreement and successful trial court ruling on counterclaim for defamation and unfair competition, resulting in award of $157,500 to licensee and over $250,000 in statutory attorney fees.
• $1,110,000 jury verdict against Norwest Bank Iowa, N.A. for negligence resulting in the loss of an SBA guaranteed loan commitment to a small manufacturing company.
• $40,000 settlement for tortious interference claim against a landlord for interfering with the sale of a tenant’s business operated in landlord’s shopping center. In same case, also obtained $145,000 district court judgment against a third party for encouraging landlord to make a side-deal with buyer.
• $150,000 district court judgment for seller against buyer for breaching purchase agreement for restaurant business.
• $475,000 settlement in favor of general contractor in a mechanic’s lien priority dispute between contractor’s lien and the bank’s first mortgage.
• $664,000 trial court ruling for breach of a commercial lease and constructive eviction due to unremediated rainwater intrusions which caused property damage and led to mold growth. The award included damages for the purchase of leasehold improvements at new location, employee downtime during relocation, moving expenses, reimbursement for remediation expenses during occupancy and attorney fees.
• $71,664.70 district court judgment for breach of promissory note.
• $679,925.53 bench trial award on a counterclaim on behalf of two Florida residents arising out of an Iowa title company’s negligence in performing title services for Iowa farmland.
• Injunction against the State of Iowa on behalf of R.J. Reynolds Tobacco Company and Bekenton USA, Inc., preventing the State of Iowa from improperly assessing royalties in a Master Settlement Agreement in nationwide tobacco class action settlement.
• $2,400,000.00 post-suit settlement to employee participants from ESOP Trustees who breached their fiduciary duties by merging ESOP and buying participants’ company shares at a lower price with intent to sell the company in foreseeable future at a higher per share price.
• $1.7 million federal court jury verdict for 47 former employees of the Younker’s department store chain who were denied severance pay upon the consolidation of this division with Carson Pierce Scott by parent company Saks, Incorporated.
• $2 million class action settlement to 1,200 patients who were overcharged for medical services by the use of hospital liens filed by Mercy Medical Center against their motor vehicle personal injury lawsuits.
• $2.8 million administrative law judge ruling in favor of Consolidated Freightways for damage to consigned freight and overcoming “act of God” limitation in Chicago & Northwestern Railway bill of lading for negligent operation of train during violent thunderstorm resulting in derailment.
• Landmark case with confidential monetary settlement and requiring agreement by major medical center not to engage in quota contracts which required cardiologists and heart surgeons to utilize implantable cardiac rhythm devices from one manufacturer.
• $4.4 million trial court ruling for fraud by a developer who diverted loan proceeds rather than pay a construction firm which built subdivision infrastructure in reliance on loan proceeds. The ruling consisted of $1.1 million in actual damages and $3.3 million in punitive damages.
• $1.5 million settlement on behalf of Billy Graham Evangelistic Association against a bank for undue influence to get an elderly woman to change her Will so as to give $1.5 million to a local charity rather than the Billy Graham Evangelistic Association.