Jurors Award $12.6M in Suit Against Dinsmore over Disclosures in Corporate Purchase
Posted Oct 26, 2012 6:54 AM CDT
By Debra Cassens Weiss
Jurors in Ohio have awarded $12.6 million to a manufacturer in a suit claiming Dinsmore & Shohl failed to reveal important information in a corporate sale.
Jurors found Dinsmore and one of its lawyers “were fraudulent in their dealings with” Turbocombustor Technology, Cincinnati.com reports. Dinsmore represented two Cincinnati companies purchased by Turbocombustor in 2006.
The suit claimed Dinsmore failed to reveal a pending shareholder suit against its two clients. Closing documents instead indicated there were no outstanding legal actions, the suit alleged.
The jury will consider whether to award punitive damages at a later date.
Dinsmore managing partner George Vincent said an appeal is planned. “This is an unfortunate outcome and did not reflect the reality of the case,” he told Cincinnati.com.