Gibbs & Bruns partner Kathy Patrick argued for Occidental Petroleum. Credit: Gibbs & Bruns Gibbs & Bruns Safeguards $38M Judgment for Occidental Against Wells Fargo
A series of miscommunications between Wells Fargo and Occidental Petroleum's agent led to a delay in the sale of stock and an alleged loss of $38 million, Occidental claimed.
September 19, 2024 at 02:49 PM
4 minute read
Contractual Disputes
The original version of this story was published on Texas Lawyer
What You Need to Know
- The U.S. Fifth Circuit upheld a $38 million damages award and $1.5 million in attorney fees for Occidental Petroleum.
- Wells Fargo was the defendant in a breach of contract dispute over the timing of the sale of stock.
- Occidental alleged the bank failed to sell stock during a designated period when the stock's value was high.
A Houston-based Gibbs & Bruns legal team convinced a federal appellate panel to uphold a $38 million judgment against Wells Fargo Bank N.A. for the bank's role in a botched sale of a client's stock.
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
Judge Shrinks Attorney Fee Award for 'Data Dump,' Billing Record Deficiencies
Assisted Living Facility's One-Sided Arbitration Agreement Rendered Unenforceable by Illinois Appellate Court
4 minute read
Why Uber's MDL Consolidation Fight at 9th Circuit May Be One to Watch
Law Firms Mentioned
Trending Stories
- 1The Law Firm Disrupted: Playing the Talent Game to Win
- 2A&O Shearman Adopts 3-Level Lockstep Pay Model Amid Shift to All-Equity Partnership
- 3Preparing Your Law Firm for 2025: Smart Ways to Embrace AI & Other Technologies
- 4BD Settles Thousands of Bard Hernia Mesh Lawsuits
- 5A RICO Surge Is Underway: Here's How the Allstate Push Might Play Out
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
