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O’Melveny Wins Appeal Affirming US$1 Billion Judgment for Lennar Corp.

April 02, 2015

FOR IMMEDIATE RELEASE
Contact:
Colleen B. McGushin
O’Melveny & Myers LLP
415.984.8825
cmcgushin@omm.com

LOS ANGELES ─ APRIL 2, 2015 ─ O’Melveny & Myers LLP earned another victory on behalf of its long-time client, Lennar Corporation, the Florida-based and publicly-traded homebuilding behemoth. On April 1, the Florida Court of Appeal affirmed a judgment awarding Lennar over US$1billion in damages against a San Diego businessman and his company based on their attempt to extort Lennar by threatening to manipulate the public securities markets.

The O’Melveny team led by Daniel Petrocelli and David Marroso represented Lennar in the lower court, including a jury trial, and on appeal. The Florida Court of Appeal affirmed the trial court’s rulings in every respect and affirmed the US$1billion verdict, concluding that Lennar had proven its case and the appellant’s other arguments “do not merit discussion.”

"This decision vindicates the important rights of our client Lennar Corp. and sends a clear message that abuse of the judicial process will not be tolerated," said Petrocelli, chair of O’Melveny’s Trial Practice.

O’Melveny & Myers LLP
With approximately 700 lawyers in 15 offices worldwide, O’Melveny & Myers LLP helps industry leaders across a broad array of sectors manage the complex challenges of succeeding in the global economy. We are a values-driven law firm, guided by the principles of excellence, leadership, and citizenship. Our commitment to these values is reflected in our dedication to improving access to justice through pro bono work and championing initiatives that increase the diversity of the legal profession. For more information, please visit www.omm.com.