Ferrara v. Landbank Development Corporation
Mar 01, 2008OUTCOME: Client prevailed on securities claim and relieved of responsibility on damages claims.
Represented defendant in connection with failed real estate development venture. Plaintiff sued several defendants for rescission based on fraud in the sale of a security, impossibility of performance ... , and fraud in the inducement. Also sued for damages in excesses of $10 million relating to loan. Client prevailed at summary judgment on securities claim, eliminating basis for attorneys' fees (which would have exceeded $2 million). Rescission granted at trial, but client prevailed on damages relating to loan and responsibility for $10 million judgment eliminated.
