Meriturn Partners LLC v. Banner and Witcoff Ltd.

Recent Illinois Case: Meriturn Partners, LLC v. Banner and Witcoff, Ltd.

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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.

Meriturn Partners, LLC v. Banner and Witcoff, Ltd., 2015 IL App (1st) 131883.

(This is for informational purposes and is not legal advice.)