Confidential
Settlement – $15,000Judge
Court
L.A. Superior San Fernando
Attorneys
Plaintiff
Defendant
Experts
Plaintiff
R. Mark Peard
(technical)
Ragnar Storm Larson
(technical)
Defendant
Joseph E. Thielen
(technical)
David Blumenthal
(technical)
Christopher E. Angelo
( Angelo & DiMonda)
(technical)
Donald A. Garrard
(technical)
Facts
The plaintiffs, the insureds, alleged that on August 8, 1992, they suffered a burglary loss at their business. The plaintiffs claimed that the equipment necessary for them to conduct their business was stolen. The plaintiffs submitted a claim to their carrier, the defendant insurance company. The defendant refused to pay the claim. The plaintiffs brought this action againist the defendant based on breach of contract, breach of the implied covenant of good faith and fair dealing and reformation theories of recovery.
Settlement Discussions
The plaintiffs made a C.C.P. º998 settlement demand for $325,000. The defendant made no settlement offers.
Damages
The plaintiffs claimed $547,000 in damages for equipment loss.
Other Information
The settlement was reached approximately two years and two months after the case was filed. A settlement conference was held on April 16, 1996 before Judge Farrell of Los Angeles Superior Court resulting in the reported settlement.
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