Confidential
Settlement – $275,000Judge
Court
Stanislaus Superior
Attorneys
Plaintiff
James L. Hand
(Victorian Legal Center)
Defendant
Experts
Plaintiff
Marc Lumer
(technical)
Facts
On Dec. 8, 1988, the plaintiff, a 42-year-old woman, purchased a $2,250,000 health care facility in Turlock through the defendant real estate investment brokerage company which served as the real estate broker for both the seller and the buyer. The seller carried the back financing. The plaintiff soon defaulted on her payments and the seller foreclosed on the plaintiff's equity (the plaintiff's $205,000 down payment). The plaintiff brought this action against the defendant based on misrepresentation and fraud theories of recovery.
Damages
The plaintiff claimed out-of-pocket losses of $205,000 and benefit-of-the-bargain losses of $800,000.
Other Information
The settlement was reached approximately six years and 10 months after the case was filed (following a verdict). SETTLEMENT CONFERENCE: A settlement conference was held on Sept. 9, 1996 before Judge Griffin resutling in a demand of $225,000 and an offer of $20,000. The defendant appealed the trial court's refusal to order the case to binding arbitration. The plaintiff was awarded $300,000 at trial and the parties subsequently settled for $275,000, in echanges for the defendant's withdrawl of the motion for new trial.
Deliberation
4 hours
Poll
11-1
Length
13 days
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390