Case Conclusion Date:March 26, 2009
Practice Area:Contracts / Agreements
Description:One of the largest financial institutions in the world sued Klein & Wilson's client for $1 million it claimed was owed. As a result of bookkeeping errors, Klein & Wilson's client admittedly lost $1 million of plaintiff's money. Klein & Wilson was able to convince the plaintiff to take less than 15 cents on the dollar of the amounts owed and the client's insurance carrier to pay the balance owed, except for the client's deductible of $15,000. Accordingly, on a loss of over $1 million, the client paid only $15,000.