SMWB Successfully Resolves Fraud Claims, Resulting In $1,000,000 Settlement
In December, 2011, Joseph M. Sweeney, Kurt E. Wilson and Scott A. Mangum successfully mediated a matter in which their clients, a local businessman and his company, received a $1,000,000 settlement.
SMWB represented a local custom blending company and its owner in a federal court lawsuit stemming from the clients’ purchase of another business. SMWB’s clients asserted that, in connection with their purchase of the business, they were defrauded by the seller. The clients claimed that the seller knowingly provided them with false financial information in order to induce them into purchasing the business.
After nearly two years of litigation, the parties agreed to mediate the matter. Following lengthy negotiations involving complex legal and factual issues relating to the case, the defendants agreed to pay SMWB’s clients $1,000,000 in order to resolve the matter.