Jurors Award $34.5M to Investors in Suit Against Holland & Knight
Los Angeles jurors have awarded three real-estate investors $34.5 million in a malpractice suit against Holland & Knight.
Jurors are scheduled to consider punitive damages today, according to the Daily Report. Jurors had deliberated for six days before finding liability. The story bases the verdict information on a report by a court official.
The plaintiffs had lost money through investments with Atlanta developer Shi Shailendra, the story says. They claimed Holland & Knight protected Shailendra without looking out for their interests. The firm represented the Shailendra Group and other investment entities, and says it had no attorney-client relationship with the plaintiffs.
Lawyers for both sides told the Daily Report that the judge in the case has barred them from commenting until the punitive damages phase of the trial is complete.