James Dondero and Highland Capital Mgmt Obtain $36M Jury Verdict

On March 13, 2008, Lackey Hershman announced that it obtained a $36 million dollar verdict for Highland Capital Management.   Based on a jury verdict rendered on March 6, 2008 in the United States Court for the Southern District of New York, the judgement was entered by Judge Peter K. Leisure.

The case stemmed from a disagreement as to whether an oral agreement to buy and sell securities is binding in the State of New York.  Following a three week trial, the jury took less than 3 hours to determine that an oral agreement is binding.  In addition to the settlement awarded to Highland Capital Management L.P., the jury awarded an additional $28.4 million to RBC Capital Markets Corporation.

More details regarding this case can be read in the Lackey Hershman press release related to the case.

Highland Capital Management, L.P., is an SEC-registered investment adviser specializing in alternative fixed-income investment strategies. Managed by James Dondero, the firm manages over $38 billion in senior secured loans, high-yield bonds, structured products, mezzanine debt, and equities for a global institutional investor base. The firm is made up of a team of over 258 professionals, including over 127 investment professionals, in offices located in Dallas, New York, and London.