Realtor Fights $50M Verdict Over Soured Property Deal

Law360, New York (November 10, 2011, 11:40 AM EST) -- American Realty Trust Inc. asked a Texas federal judge for a new trial Wednesday after a jury awarded more than $50 million to defendants in its long-running suit over the breakdown of a partnership involving the purchase of eight apartment complexes in the Midwest.

After 13 years of litigation, the court last month approved a jury verdict finding ART Midwest Inc. had breached its fiduciary duty to David M. Clapper and his developer Atlantic Midwest LLC when it backed out of a partnership citing nonconforming zoning...
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