In an effort to save his “golden parachute” after being fired from the bank he founded, Vernon Hill argued to the Third Circuit that the trial judge’s answer to a question from the jury was an error sufficient to warrant a new trial.
Hill, who in 1973 founded Commerce Bank, which merged more than 30 years later with TD Bank, lost his bid to collect $17 million in the U.S. District Court for the District of New Jersey when a jury returned a verdict in favor of the bank. The jury deliberated for about two hours after a nine-day trial last year.
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