$14 Million in Actual and Punitive Damages Reversed in Fraud Suit

March 3, 1999 in Case Summaries
Jeff Levinger represented Milligan and Montague & Company in the appeal of a judgment in favor of investors for actual and punitive damages exceeding $14 million based on the jury’s findings of fraud, breach of fiduciary duty, and conspiracy in connection with a corporate reorganization.  The Fifth Circuit reversed, vacating the actual and punitive damage awards.  Dyll v. Milligan and Montague & Company, 167 F.3d 945 (5th Cir. 1999).