Shustak Frost & Partners won summary judgment for a large financial institution, and successfully obtained the dismissal of all claims asserted against the company, avoiding a long and potentially costly jury trial.
SAN DIEGO, CA, June 29, 2012 /24-7PressRelease/ -- Shustak Frost & Partners, P.C., announces that it won summary judgment for a large financial institution, and successfully obtained the dismissal of all claims asserted against the company, avoiding a long and potentially costly jury trial. The firm's client, a conglomerate of four independent broker-dealer firms with more than 5,000 independent financial professionals and 700 affiliated financial institutions, was sued for millions of dollars in damages by the sellers of a California based broker-dealer arising out of a $12 million acquisition that closed in the spring of 2008, just before the unprecedented collapse of the economy. The case involved more than 600,000 documents, numerous depositions of witnesses in Sacramento, Los Angeles, New York and Atlanta, and multiple parties and counsel. Nine months after we took over the case, we obtained summary judgment for our client who was thrilled. In addition to avoiding a long and costly jury trial, our client is entitled to recover the substantial costs and disbursements incurred in defending the claims. Partner Erwin J. Shustak and Senior Associate Robert L. Hill, along with paralegal Dominic Giovanniello, were primarily responsible for the case.
Shustak Frost & Partners is a specialty law firm with a national practice focused on complex securities, financial and business law. We have offices in California and New York. Please contact us toll free at 888-748-8748, or visit our website at
www.shufirm.com.
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