On December 9, 2011, TDR partners Gino DiVito and Mark Horwitch obtained a complete defense victory on behalf of the managing partner of an investment partnership sued by six of the partnerships minority partners for breach of fiduciary duty. At the American Arbitration Association hearing, the claimants requested almost $1 million in compensatory damages, plus punitive damages and attorney fees. After a five-day hearing, the three-member AAA panel unanimously awarded the claimants less than $74K, which was substantially the same amount that TDRs client stipulated to be due (i.e., less than 1/10th of what the claimants demanded). The panel also denied in full the claimants request for punitive damages and attorney fees.
