Defense Win in a Commercial Real Estate Transaction Lawsuit
Jason Murphy successfully defends real estate client in a commercial real estate transaction lawsuit.
In the matter of 5521 LJ Blvd LLC v. Jason McKenna, Plaintiff asserted substantial claims with regard to breaches of fiduciary duty and negligence. Plaintiff claimed that during the multi-million dollar transaction in 2014 in La Jolla, California, the Defendant did not follow through on multiple tasks, failed to evaluate the best use of the property, did not properly evaluate potential income, and overstated the price of the property. After the purchase, Plaintiff was unable to rent the property for several years and alleged they had to incur over $500,000 worth of expenses to repair and update the property to make it habitable. In addition, Plaintiff claimed damages for several years of lost rents.
A seven day jury trial went forward before Judge Pollack in San Diego Superior. Plaintiff asked the jury to award in excess of $1,400,000. The defense had issued a previous 998 offer of $510,000. The jury awarded only $15,000 to the Plaintiff.