Consortium Information Services v. Credit Data Services
Published: Jan. 14, 2006 | Result Date: Aug. 1, 2005 | Filing Date: Jan. 1, 1900 |Case number: 0356139 Verdict – $1,280,000
Facts
The case arose out of a failed business transaction between plaintiff Consortium and defendant Credit Data Services regarding the purchasing and re-selling of credit reporting information. Specifically, despite repeated assurances that an oral contract was in place and that the two parties "had a deal," the defendant backed out of the deal at the eleventh hour, causing the plaintiff to suffer immediate and long-lasting financial losses, including the loss of its entire book of business which generated a net-income stream of approximately $50,000 per month.
Settlement Discussions
The defendant offered an undisclosed "substantial amount" which was less than the verdict. The plaintiff rejected the offer based on a high trial cost bill and the presence of a cross-appeal.
Result
$1.28 million verdict affirmed by the Ninth Circuit Court of Appeals.
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