Houston, Texas (PRWEB) July 31, 2014
On July 24, 2014, Harris County District Judge, the Honorable Al Bennett, entered a $50.9 million judgment in favor of Hawash Meade Gaston Neese & Cicack LLP’s clients, Pankaj K. Shah, M.D. and Apex Katy Physicians, LLC ("Apex"), against Houston area management companies, Prestige Consulting, Inc., Apex Long Term Acute Care - Katy, LP, and Apex Katy Physicians - TMG, LLC, doing business as Turn Around Management Group, as well as their individual managers and directors, Adeel Zaidi and AK Chagla.
The judgment followed a week-long trial beginning March 17, 2014, in the case styled Apex Katy Physicians, LLC, et al. v. Adeel Zaidi, et al., Cause No. 2009-02578 and consolidated Cause No. 2009-03055 in the 61st Judicial District Court of Harris County, Texas.
The $50.9 million awarded to Dr. Shah and Apex included over $17 million in compensatory damages and $33.5 million in punitive damages. The judgment holds the defendants jointly and severally liable.
The plaintiffs' pleadings alleged that Dr. Shah was the majority investor in Apex, which the defendants formed and controlled. The defendants induced Dr. Shah to invest over $1 million into Apex and to guaranty more than $5 million in debt, which Apex used to purchase real estate to house a long-term acute care hospital operated by the defendants in Katy, Texas. The defendants then used their positions of control over Apex and the hospital to siphon tens of millions of dollars to themselves and their complex network of other businesses. The defendants eventually bankrupted both Apex and the hospital, but publicly blamed Dr. Shah for the failure.
“We could not be happier with the Court’s judgment,” said Andrew K. Meade, Hawash Meade’s managing partner. “The defendants picked this fight when they publicly blamed Dr. Shah for the failure of Apex hospital. The defendants then expanded this litigation to multiple lawsuits involving over thirty parties at one point and took every opportunity to delay these proceedings for over five years. It is extremely gratifying to shed the light of truth on the defendants’ conduct and to vindicate Dr. Shah’s good name.”
The Hawash Meade trial team was led by partner Andrew K. Meade and associate Jeremy M. Masten.
About Hawash Meade Gaston Neese & Cicack LLP
Hawash Meade Gaston Neese & Cicack LLP is a trial and appellate boutique with a focus on high stakes business litigation. Our lawyers have extensive expertise across a wide range of industries. We represent companies and individuals on both sides of the docket in federal and state court lawsuits, arbitrations, and appellate matters. Depending on the needs of the client and the case, we offer hourly fee, flat fee, and/or contingent fee arrangements. For more information, visit http://www.hmgnc.com.