Lightfoot Attorneys Reach Multi-Million Dollar Settlement In Stock Purchase Dispute
Jun 28, 2012
Following jury selection and just minutes before opening statements were set to begin in a federal court trial in Dothan, Alabama on June 20, 2012, Lightfoot attorneys Sara Ford, William Brooks and Wes Gilchrist completed negotiations of a $13 million dollar settlement on behalf of the purchaser of a majority interest of a local business. The stock purchaser brought suit against the sellers in 2009 for securities fraud and breach of the representations and warranties contained in a stock purchase agreement. During pretrial proceedings, the Court dismissed all of the defendants’ claims for damages brought against the purchaser and rejected the defendants’ requests for dismissal of the claims brought against them.