On March 17, 2020, Colorado managing partner, Derek Anderson, secured a defense verdict for the firm’s clients in a breach of fiduciary duty lawsuit.  The firm defended three members of the board of directors of a Denver based company, its president and the preferred shareholders of the company, in a suit brought by the founder of the company, the fourth board member and the company’s common shareholders.  The case involved a complicated financing transaction and a claim for breach of fiduciary duty stemming from the alleged dilution of the plaintiffs.  The case was aggressively litigated for nearly two years.  Plaintiffs sought damages of $12 million including punitive damages.  The case was tried to a jury for twelve days in the Denver District Court.  The jury took just one and half hours to return a verdict for the defense.

A copy of the final judgment can be read here.