Confidential
Settlement – $18,000Judge
Court
L.A. Superior Pomona
Attorneys
Plaintiff
Defendant
Experts
Plaintiff
A. Scott Herd
(technical)
Defendant
Charles T. Lamb
(technical)
Philip Hawkins
(technical)
Roy Bossert
(technical)
Facts
On Dec. 28, 1990, the plaintiffs purchased a property that had an illegal conversion. The plaintiffs claimed that the defendant brokers had convinced the plaintiffs to purchase the dwelling with the illegal conversion. The plaintiffs brought this action against the defendants based on fraud after discovery.
Settlement Discussions
The plaintiffs made a settlement demand for $50,000. The defendants made a settlement offer of $12,000.
Damages
The plaintiffs claimed out-of-pocket loss of $40,000 on the high end and $20,000 on the low end.
Other Information
The settlement was reached approximately two years and two months after the case was filed.
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