Jenner & Block

September 4, 2014 Firm Wins $101 Jury Verdict for Ventas

On this day in 2009, a jury awarded $101 million to client Ventas, a leading healthcare real estate investment trust. Following a three-week trial in Kentucky, the verdict was awarded as compensatory damages against competitor HCP for tortious interference with business expectation arising out of Ventas’ acquisition of the Sunrise Senior Living REIT in 2007.  HCP had topped Ventas' initial bid for Sunrise, which prompted Ventas to increase its offer by about $101 million. Ventas ultimately acquired Sunrise for about $2 billion and later sued HCP, arguing that it had interfered with Ventas' purchase agreement by making misleading public statements relating to the bid.  On appeal, the Sixth Circuit not only affirmed the verdict but also remanded the case to the trial court to allow Ventas to pursue punitive damages.  “The record is replete with evidence of intentional misrepresentations, deceit, and/or concealment of material facts by HCP,” the opinion read. For his work on the appeal, David Bradford was named American Lawyer’s “Litigator of the Week” in May 2011. In addition to David, the team resenting Ventas included current Partners Michael L. CebulaTerri L. Mascherin, Paul M. Smith, Daniel J. Weiss and Bradley M. Yusim and Associates Anthony B. Borich, Rachel S. Morse and Shaun M. Van Horn.

CATEGORIES: 2005-present, D Bradford, P Smith, T Mascherin, Ventas, Video

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