St. James Capital Partners, L.P., et al v. St. James Capital Corporation, et al.
Counsel for defendants in a partnership dispute in which plaintiffs asserted claims of breach of fiduciary duty for 14 separate transactions. Following six weeks of pretrial and eight weeks of actual trial during the summer of 2008, the jury found no breach of fiduciary duty on all claims. Jury made a separate finding that each of the transactions was ‘entirely fair’. Plaintiffs sought $47 million in alleged actual damages, approximately $50 million in disgorgement and $60 million in punitive damages. Plaintiffs were poured out on all claims. Defendants also prevailed entirely on their counterclaims, including findings of malice and punitive damages, and collected $11 million dollars as counter-plaintiffs.