Federal Jury In Louisville Awards $101 Million dollar verdict for unfair business competition

 U.S. District Judge John G. Heyburn II presided over a jury trial in Louisville this week which resulted in a jury verdict of $101,000,000 in favor of the Ventas corporation.  Ventas alledged that California based HCP, Inc. interfered in a business deal and mislead the shareholders of Sunrise Senior Living Real Estate Trust which was in negotiations with Ventas for the sale of their properties.  This verdict is believed to be the second largest jury verdict in Kentucky.  In 2002 a Knott Circuit Court jury awarded $270 million to a coal miner.

 

Ventas alleged that HCP entered a bid to purchase the property when a deal was close between Ventas and Sunrise.   Ventas claimed that HCP was not a legitimate bidder.

 

HCP argued that even if the claims were true, the victims were the HCP shareholders not Ventas.  Ventas said the intent was to ruin the deal to hurt Ventas.

 

Ventas’s  lawyer team included Lead Counsel David Bradford,  Eric Ison and Holland McTyeire V.   HCP indicated that they would appeal the verdict.

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