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Bloomberg report: "Canyon Ridge lawsuit ends after four years and millions in payments to developer"

[Chattanooga Times Free Press, Tenn.]

July 7, 2015

A recent Bloomberg report provides an update on Canyon Ridge Resort, LLC, et al. v. Sterne, Agee & Leach, Inc. et al., a case in which McKool Smith represents the developers of Canyon Ridge Resort in a lawsuit filed against financial services firm Sterne Agee & Leach, Inc. and one of its former investment bankers, concerning breach of contractual and fiduciary duty matters. The report notes that "Circuit Court Judge J.B. Bennett awarded an additional $4.5 million in pre-judgment interest" to the firm's clients, who had already reached an agreement with the defendants in a negotiated settlement following a June 2015 jury award of $20,599,000 in compensatory damages and $11,500,000 in punitive damages to the plaintiffs.  

Read the full article from the Chattanooga Times Free Press here.