$350K in Attorney Fees Awarded in Stock Suit
A Montgomery County judge has awarded roughly $350,000 to counsel representing a defendant accused of breach of contract in a case relating to stock purchases.
January 14, 2016 at 10:36 AM
4 minute read
The original version of this story was published on The Legal Intelligencer
A Montgomery County judge has awarded roughly $350,000 to counsel representing a defendant accused of breach of contract in a case relating to stock purchases.
The plaintiff, Hiren Patel, sued Timothy A. Mann, owner of Philadelphia Franchise Development Corp., for dissolving the company and not furnishing Patel with stock certificates after Patel bought the majority of the shares of the company, according to his complaint. Patel sought to recover $450,000 he paid to Mann. The defendant claimed Patel's case was meritless and that he and his lawyer were responsible for prolonging “vexatious” litigation. The jury found in favor of Mann.
Additionally, Mann filed a breach of contract counterclaim. The jury found that Patel was liable for breach of contract and awarded Mann $40,000 in damages, prior to the award of attorney fees. Anthony Gallia and Luke McLoughlin of Duane Morris were counsel for Mann. McLoughlin did not return a call seeking comment.
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