Dunnington, Bartholow & Miller, LLP recently defeated a summary judgment motion in a lawsuit brought by its client, a venture capital firm, seeking payment for shares of a portfolio company sold to outside investors.
In the motion, the investors had claimed that the damages sought by Dunnington’s client—which included payment of amounts owed under the contract and consequential damages arising from the defendants’ breach—were too speculative, but the Supreme Court of the State of New York (Reed, J.) disagreed with the investors and sided with the venture capital firm. The Court held that the plaintiff was entitled to proceed with its claims, including the claim for consequential damages, and that the correct measure of damages would be determined after discovery. Dunnington was represented at the argument by attorney Justin T. Kelton.