Meriturn Partners LLC v. Banner and Witcoff Ltd.
This recent case affirmed a $6,000,000 jury verdict against a law firm that allegedly committed negligence in conduct due diligence regarding an investment in a troubled company. The First District denied the plaintiffs’ cross appeal arguing that trial court improperly excluded lost profits evidence. The Court held that the lost profits damages related to a new business and were speculative.
(This is for informational purposes and is not legal advice.)