5th Circ. Tosses $15M Award In Real Estate Investment Case

By Katie Buehler (August 2, 2021, 4:46 PM EDT) -- A Fifth Circuit panel has tossed a nearly $15 million jury verdict awarded to an investment company swindled while trying to buy more than 1,000 non-performing home loans, finding the verdict overcompensated the company and should be reduced by at least $6.5 million.

The three-judge panel declined to order a new trial in the case but agreed with real estate investor Mark Hyland and his companies that the award in favor of SED Holdings LLC needs to be recalculated to avoid double counting of certain amounts and to account for settlement credits, according to a published opinion filed July 27....

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