5th Circ. Tosses $15M Award In Real Estate Investment Case

Law360 (Aug. 2, 2021, 4:46 p.m. EDT) – A fifth district panel has passed a nearly $ 15 million jury verdict awarded to an investment company that tried to buy more than 1,000 distressed home loans , was defrauded, and found that the verdict overcompensated the company and should be reduced by at least $ 6.5 million.

The three-member panel declined to order new proceedings in this case, but agreed with real estate investor Mark Hyland and his companies that the surcharge needs to be recalculated in favor of SED Holdings LLC to avoid double counting certain amounts and the Comparing credits to be considered, according to a published statement dated July 27 …

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