James E. Arnold & Associates, LPA, Wins $1 Million Jury Verdict in Federal Court
On October 17, 2013, Arnold & Clifford LLP, obtained a defense verdict and a jury award in its client’s favor totaling $1,000,000 in a highly contested business dispute between the members of a now-dissolved company called Big Research LLC. Arnold & Clifford LLP, represented Prosper Business Development Corporation, the majority owner and management company of Big Research. The minority member, Penn LLC, had sued claiming that Prosper and its two principals had breached their fiduciary duties to Big Research in the 2009 dissolution of the company, had charged excessive fees in the management of the company, and had taken the assets of Big Research for itself. Penn was seeking $8 million in damages.