(Credit: trekandphoto/stock.adobe.com) Nearly $50M Award in Post-Acquisition Dispute Between Land Developers Denied by Federal Jury; $1 Nominal Fee Awarded
"We are pleased with the jury's vindication of Mr. Erickson and rejection of the majority of claims against him, including that Plaintiffs' land sale claims were undermined by Plaintiffs' own failures under the contract." "After more than two years of hard-fought litigation, the jury concluded that the Plaintiffs' demand for nearly $49 million in damages was unsupported by the facts of the dispute. The Court also awarded Mr. Erickson more than $100,000 on his counterclaims against the Plaintiffs."
October 02, 2023 at 12:31 PM
3 minute read
A land developer in a post-acquisition dispute with a buyer over the transfer of 1,000 homes was vindicated by a judgment from a federal jury, who rejected the buyer's demand of nearly $50 million in damages for undelivered land.
The judgment entered Sept. 26 in the U.S. District Court for the Middle District of Georgia denied the plaintiff, American Southern Home Holdings (ASHH), and Ash-Grayhawk, the award they were hoping for, and in turn, awarded over $107,000 to the defendant, David B. Erickson, for counterclaims alleging a breach of warranty holdback under an asset purchase agreement.
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