Jury Finds Officers and Directors Liable for $5.75 Million in Damages
Court upholds verdicts for breach of fiduciary duty in bankruptcy case involving “deepening insolvency”
A federal District Court in Pittsburgh has refused to disturb jury verdicts imposing personal liability for $5.75 million in compensatory and punitive damages against 15 officers and directors of a bankrupt nursing home. The Court found that there was sufficient evidence in the trial record to justify the verdicts. ( Official Committee of Unsecured Creditors v. Baldwin, W.D. PA, No. 10cv800, 5/17/13 .)
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