Orange County Superior Court (Jury Verdict) Result: Defense Verdict in $30 Million Claim

Orange County Superior Court (Jury Verdict)
Result:  Defense Verdict in $30 Million Claim

Gregory G. Brown represented a public company in a fraud and breach of contract claim by the former owner of the company, Russell Gilbert.  An Orange County jury issued a complete defense verdict.  Cleveland, OH based MA Hanna Company purchased Costa Mesa based Cimco (a molding and compounding firm) for $34 Million.   Gilbert and Hanna’s CEO were also negotiating the possible sale back to Gilbert the custom injection molding unit. This transaction never materialized and Gilbert sued both Hanna and it’s CEO for fraud and breach of contract in the amount of $11 Million, plus punitive damages.  Since the defendant company was worth over $5 Billion and the CEO’s net worth was in mid millions, a punitive damage award could have been in the $20 – $30 Million range.  This case was featured in the Los Angeles Daily Journal