Summary Judgment and Six-Figure Sanctions Aware in Fraud and Breach of Contract Action

The Firm defended a commercial lender in a fraud and breach of contract action brought by a competing lender. Plaintiff sought $2 million in compensatory damages as well as punitive damages. We completed discovery within six months and moved for summary judgment. The court granted our motion. We also obtained a six-figure sanctions award pursuant to Federal Rule of Civil Procedure 11. That award enabled us to obtain a waiver of plaintiff’s appellate rights and provided our client finality and a substantial positive recovery (despite no cross-claims) within months of the litigation’s inception.