Contracts
Breach of Fiduciary Duty
Waste of Corporate Assets
City of Miami Police Relief and Pension Fund v. R. Chad Dreier, Leslie M. Frecon, Robert E. Mellor, Ned Mansour, Roland A. Hernandez, William L. Jews, Charlotte A. St. Martin, Norman J. Metcalfe, Daniel T. Bane, Paul J. Varello, John O. Wilson, Gordon A. Milne
Published: May 5, 2012 | Result Date: Mar. 10, 2011 | Filing Date: Jan. 1, 1900 |Case number: BC411143 Settlement – $1,000,000
Court
L.A. Superior Central
Attorneys
Plaintiff
Jeff S. Westerman
(Westerman Law Corp.)
Brett M. Middleton
(Johnson Fistel LLP)
Gerald H. Silk
(Bernstein, Litowitz, Berger & Grossman LLP)
Mark Lebovitch
(Bernstein, Litowitz, Berger & Grossman LLP)
Kent A. Bronson
(Milberg, Coleman, Bryson, Phillips & Grossman PLLC)
Defendant
Edward D. Totino
(Baker McKenzie)
Facts
The City of Miami Police Relief and Pension Fund (Fund) held shares in The Ryland Group Inc.
Contentions
PLAINTIFF'S CONTENTIONS:
The Fund filed a derivative suit against officers and directors of Ryland, alleging breach of fiduciary duty, waste of corporate assets, and unjust enrichment.
Result
The parties reached a settlement for $1 million.
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