Hiersche, Hayward, Drakeley, and Urbach, P.C. Achieves Complete Defense Verdict for Corporate Officer in Multimillion Dollar Fiduciary Duty Case After Six Day Jury Trial

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Addison, Texas-based law firm Hiersche, Hayward, Drakeley and Urbach, P.C. won a complete defense verdict for a client of the firm, a corporate officer who was sued for breach of fiduciary duty and self-dealing. The HHDU litigation team led by Jim Drakeley and Scott Seifert prevailed after a six day trial in the 134th Judicial District Court of Dallas County, Texas.

Hiersche Hayward Drakeley Urbach
This case was hard fought. When the jury’s verdict was announced, we could see that our client and his family were visibly moved, and we’re delighted to have achieved this outcome for them.

Hiersche, Hayward, Drakeley and Urbach, P.C. (HHDU) is pleased to announce that attorneys James T. Drakeley and R. Scott Seifert won a complete defense verdict for a client of the firm, a corporate officer client who was sued for breach of fiduciary duty and self-dealing. The HHDU litigation team prevailed after a six day trial in the 134th Judicial District Court of Dallas County, Texas.

The Plaintiffs filed a lawsuit alleging that the Defendant, a client of HHDU, breached fiduciary duties owed while serving as the Chief Restructuring Officer and investment banker concerning the sale of the company. According to court documents, the Plaintiffs requested damages of approximately eight million dollars, plus punitive damages.

The case was particularly challenging to defend due to the Court ruling that the Defendant was a formal fiduciary to one of the Plaintiffs. However, court documents show that the jury determined that there was no relationship of trust and confidence between the Plaintiff and the Defendant. The burden of proof shifted to the defense once the fiduciary duty status was determined by the Court. This left the HHDU trial team with the significant challenge to convince the jury that the transaction at issue was both fair and equitable to the Plaintiffs.

“This case was hard fought,” said Mr. Drakeley, a founding shareholder of HHDU. “When the jury’s verdict was announced, we could see that our client and his family were visibly moved, and we’re delighted to have achieved this outcome for them.”

“We are very pleased with the extensive trial preparation performed by the entire HHDU trial team,” added Mr. Seifert, a shareholder with the firm. “This case, and our client, benefitted from the significant contributions made by attorney Kevin J. Keith, who is Board Certified in Appellate Law by the Texas Board of Legal Specialization and associate attorney Laurie Arnoldy.”

Following trial, the Plaintiffs filed a motion to set aside the jury’s verdict. Court documents indicate that the motion was denied and a final judgment was entered on December 6, 2014, upholding the jury’s verdict.

Hiersche, Hayward, Drakeley & Urbach, P.C. is a full-service commercial law firm located in Addison, Texas. Their attorneys provide legal representation in a broad range of practice areas, including complex commercial litigation, business, real estate, mergers and acquisitions, executive employment representation, insurance defense, intellectual property, bankruptcy, creditor’s rights, taxation, and estate planning. For more information visit the firm’s website at http://www.hhdulaw.com.

SOURCE: Hiersche, Hayward, Drakeley and Urbach, PC
CAUSE/CASE NO: DC-12-12902    
COURT: 134th Judicial District Court of Dallas County, Texas
JUDGE: The Honorable Dale Tillery

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Mallory Wendel

James Drakeley
Hiersche, Hayward, Drakeley & Urbach, P.C.

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