LASVN #2, JPK Holding Company Inc., Raffi D. Krikorian, et al. v. Van Ness and Sperry Inc., Sperry Van Ness Investment Brokerage Services Inc., et al
Published: Jun. 24, 2003 | Result Date: Apr. 18, 2003 | Filing Date: Jan. 1, 1900 |Case number: BC206251 Verdict – $5,278,380
Judge
Court
L.A. Superior Central
Attorneys
Plaintiff
Defendant
Sheldon E. Eisenberg
(Sullivan & Triggs LLP)
Robert H. Dewberry
(Dewberry Firm)
Experts
Plaintiff
Michael Savoy
(technical)
Alan A. Herd
(technical)
Michael J. Wagner
(technical)
David C. Gurnick
(Lewitt Hackman)
(technical)
Defendant
Jonathan Edward Solish
(Bryan Cave LLP)
(technical)
Samuel K. Freshman
(technical)
Tamara A. Laskin
(technical)
Mark Higgins
(technical)
Frederick Chin
(technical)
Facts
The plaintiffs sued the Sperry Van Ness defendants in connection with the operation of the Sperry Van Ness office in Encino from 1994 to 1999. The office grew to 30 brokers and was profitable. In 1999, Sperry Van Ness nearby offices in Los Angeles County which plaintiff contended resulted in the destruction of the plaintiff's office. The plaintiffs contended that the competing company-owned offices violated territorial protections contained in the parties' agreements and that the agreements constituted an unregistered franchise.
Settlement Discussions
The parties had a mediation before the Hon. Luis A. Cardenas, retired, at which the plaintiffs demanded $2 million. Prior to trial, Sperry Van Ness made a C.C.P. Section 998 offer of $300,000. During trial, Sperry Van Ness demanded $1 million on their cross-complaint.
Damages
The plaintiffs claimed loss of business and employment agreement. The cross-complainants claimed loss of management fees.
Result
The jury awarded the plaintiffs $5,278,381. This comprised $4,378,381 for economic damages and $900,000 in punitive damages. Costs, interest and attorneys' fees claims are pending. The jury awarded Sperry Van Ness zero dollars on its cross-complaint.
Deliberation
four days
Length
10 days
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