Jury Tosses Spector Gadon's Claims Against Texas Broker

Law360, Philadelphia (September 21, 2012, 2:45 PM EDT) -- A Pennsylvania federal jury found Thursday that a Texas brokerage was not liable for nearly $1 million in legal fees lost by Philadelphia law firm Spector Gadon & Rosen PC from representing a now-bankrupt real estate developer.

In the eight-day trial, the law firm sought to convince the jury that it never would had extended credit to Brooklyn developer Stephan Jemal if a Southwest Securities broker had not misrepresented the value of Jemal’s accounts when the latter was trying to secure real estate loans.

But after...
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