Reynolds Frizzell secured a complete defense victory and an award of fees and expenses for a trustee client when a Texas probate court jury returned a verdict in favor of our client Riddle Holdings, Ltd. (“RHL”) which faced claims for over $70 million in disgorgement damages for alleged breaches of fiduciary duties.
Jean Frizzell, Jim Weiss, Erin Formby and paralegal Misty Davis secured the defense verdict after a nine-day trial in the Probate Court No. 3 of Harris County before the Honorable Judge Jason Cox. Judge Cox entered judgment in favor of defendants and awarded all fees and costs sought. On February 25, 2025, the Court of Appeals dismissed the appeal lodged by plaintiffs.
Plaintiff Steven Simmons, Plaintiff Bradley Fish, and Defendant RHL were beneficiaries of a Trust Agreement governing the maintenance and sale of certain investment properties off the Grand Parkway. In addition to its role as a beneficiary, RHL also served as Trustee. RHL, in its role as Trustee, managed the properties for its co-investors, many of whom were family members and friends. After RHL sold several of the Trust properties to developer NewQuest Equity for a healthy return for its investors, Plaintiffs filed suit, alleging that RHL breached its fiduciary duties to Plaintiffs primarily through holding interest in additional land off the Grand Parkway.
After fewer than two hours of deliberation, the jury found that RHL did not breach any of its fiduciary duties to Plaintiffs. NewQuest Properties was ably and successfully represented by Ayesha Najam, Anthony Kaim and Michael Davis of Gibbs and Bruns LLP.
Jim and Erin were pivotal to the victory by presenting key witnesses, drafting and arguing the jury charge, and arguing specific Motions in Limine. Misty was instrumental in her role as the trial paralegal. Legal secretaries Suni Blue and Monica Orand were also invaluable as they helped the team on a daily basis with trial tasks.