Halling | Meza Obtains a Defense Verdict on $12M Claim

On December 9, 2016, following a two-week trial in Santa Monica before Judge H. Jay Ford, partner Chris Halling, along with associates Daniel Jonathan and Cameron Halling, successfully obtained a defense verdict for their clients. The case related to the acquisition and development of a $250 million luxury high-rise residential tower in San Francisco. Plaintiff was a real estate investment company which was part of the joint venture seeking to acquire, construct, market, and sell the project. Defendants were real estate investment bankers and brokers working to raise debt and equity financing for the project. An individual defendant had been released from the case prior to trial when HM LLP successfully obtained a partial summary judgment. The plaintiff had claimed that the defendants breached their contract with the plaintiff, and their duties as brokers and agents, by failing to negotiate for certain non-circumvention provisions with the insurance company that replaced plaintiff and ultimately provided $100 million of equity for the project. Plaintiff demanded over $12 million in lost profit damages in the bench trial. The court found in favor of our clients, the defendants, on all counts. The Plaintiff was awarded nothing and ordered to pay the defendants’ costs. Congratulations to Chris and his team!