Posted Aug 12, 2008 12:22 pm CDT
After a nearly four-week trial, a Washington, D.C., jury returned a $500,000 verdict against plaintiffs firm Cohen, Milstein, Hausfeld & Toll.
The firm’s ex-clients, Thomas T. Prousalis Jr. and Gayle Prousalis, sued in 2003, claiming the firm fouled up a suit against the pair’s stockbrokers by, among other things, not filing witness and exhibit lists, the Blog of Legal Times reports.
But while the Prousalises were seeking a whopping $25 million in compensatory damages and $100 million in punitives, jurors only awarded money to Gayle Prousalis.
Onetime lawyer Thomas Prousalis was disbarred in D.C. in 2004 after pleading guilty to mail, wire and securities fraud, the BLT reports.
Washington Post: “Penny-Stock Lawyer Nears Day of Reckoning”