Penn, LLC et al v. Prosper Business Development Corporation, et al
Filing
289
ORDER memorializing Jury Trial. Signed by Judge Gregory L Frost on 10/17/13. (sem1)
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IN THE UNITED STATES DISTRICT COURT
FOR THE SOUTHERN DISTRICT OF OHIO
EASTERN DIVISION
PENN, LLC, et al.,
Plaintiffs,
Case No. 2:10-cv-993
JUDGE GREGORY L. FROST
v.
PROSPER BUSINESS DEVELOPMENT
CORPORATION, et al.,
Defendants.
ORDER
This matter came on for a jury trial the 23rd day of September, 2013 through the 17th day
of October, 2013.
The jury was duly empaneled and sworn. Testimony was presented and evidence
admitted.
At the close of Plaintiff’s case on its complaint, the Court granted Defendants’ motion for
judgment as a matter of law and dismissed Plaintiff’s claims for conversion and unjust
enrichment. The Plaintiff’s claim against all three Defendants on the alleged breach of fiduciary
duties survived and was presented to the jury.
At the close of Defendants’ case on their respective counterclaims, the Court granted
Plaintiff’s motion for judgment as a matter of law on the counterclaim of Defendant, Prosper
Business Development Corporation, for an alleged breach of fiduciary duty. The Court denied
Plaintiff’s motion for judgment as a matter of law on the counterclaims of all three Defendants
alleging abuse of process, which were presented to the jury.
After due deliberations, the jury returned answers to the Interrogatories and General
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Verdicts.
The Court finds that the answers to the Interrogatories and the Verdicts are consistent and
the Court accepts the same.
In accordance with the answers to the Interrogatories and the General Verdicts, the Court
enters the following judgments:
1.
The Court enters judgment in favor of all three Defendants and against Plaintiff
on Plaintiff’s claim for breach of fiduciary duties.
2.
The Court enters judgment in favor of Defendants and against Plaintiff on each of
the Defendants’ abuse of process claims and awards compensatory damages in
favor of Prosper Business Development Corporation and against Plaintiff in the
amount of $1,000,000.00; awards compensatory damages in favor of Phil Rist and
against Plaintiff in the amount of $100,000.00 and awards punitive damages in
favor of Phil Rist and against Plaintiff in the amount of $25,000.00; awards
compensatory damages in favor of Gary Drenik and against Plaintiff in the
amount of $100,000.00 and awards punitive damages in favor of Gary Drenik and
against Plaintiff in the amount of $25,000.00.
The jury found and this Court awards attorneys fees to Phil Rist and Gary Drenik and
against Plaintiff in a sum to be determined by the Court at a hearing to be scheduled by the
Court.
IT IS SO ORDERED.
/s/ Gregory L. Frost
GREGORY L. FROST
UNITED STATES DISTRICT JUDGE
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