Coral Gables, FL
Securities and investment fraud Lawyer at Coral Gables, FL
Practice Areas: Securities & Investment Fraud, Arbitration ... +5 more
OUTCOME: Defense verdict
After five day bench trial, court enters final judgment in favor of our client, Travelers Casualty and Surety Company of America, denying plaintiffs' action to enforce state court award of attorney fee ... s.
OUTCOME: Summary Judgment awarded to our client, Travelers Casualty & Surety Company of America
In Petro v. Travelers Cas. & Sur. Co. of Am., 2014 WL 4920787 (N.D. Fla. 2014), following a hurricane the insured condominium association failed to reconstruct its building properly and on a timely bas ... is. The association was sued for damages by several unit owners in state court. Travelers defended the state court action for almost five years before this defense was rejected on the eve of trial; the association then settled with the Plaintiffs for an amount well exceeding Travelers’ policy limits. The prevailing Plaintiffs secured an assignment of the association’s rights under the policy and sued Travelers in federal court for breach of contract and bad faith. The Plaintiffs argued that Travelers should cover the entire underlying judgment because it wrongfully refused to defend the association by failing to agree to a settlement prior to trial. Travelers argued that it would it be ridiculous to consider a fully funded five-year defense of the state court action under a reservation of rights (which included defending against clearly uncovered allegations of fraud and misrepresentation) a wrongful refusal to defend; furthermore, Travelers noted that the association breached the policy by settling without consent. The court agreed with Travelers, granting it summary judgment in a decision that will be published in the Federal Supplement. The Plaintiffs chose not to appeal.
OUTCOME: Judgment entered for Travelers for over $14 Million, which was affirmed on appeal.
Our client, Travelers Casualty & Surety Company of America, sued Ernst & Young in the Federal District Court for the Southern District of Mississippi on claims of negligence and professional malpractic ... e as a result of Ernst & Young's failure to uncover errors in the financial statements of a company to which Travelers issued a surety bond. After a month-long jury trial, the jury found for Travelers and the Court entered a judgment in favor of Travelers for over $14 Million. Ernst & Young appealed the verdict to the United States Court of Appeals for the Fifth Circuit, which affirmed the jury award in a unanimous decision.
Ad
Transform legal challenges into solutions.
Connect now to review your situation.
