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Ala court voids $8.4M verdict against GE Capital
Court Watch |
2011/12/02 11:04
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The Alabama Supreme Court has reversed an $8.6 million verdict against GE Capital Aviation Services in a lawsuit filed by Pemco World Air Services Inc.
The justices ruled Friday that a lower court was wrong when it refused to overturn a verdict returned by jurors in 2009 in Dale County. The Tampa, Fla.-based, Pemco has a plant in Dothan.
Pemco refurbishes airplanes, and GE Capital leases and finances aircraft. The companies accused each other of breach of contract and fraud in 2004 over a contract to convert Boeing 737 owned by GE Capital from passenger planes into freighters.
Jurors sided with Pemco, but the Supreme Court says evidence didn't support the claim. The justices sent the case back to Dale County for a new trial.
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Investment Fraud Litigation |
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Securities fraud, also known as stock fraud and investment fraud, is a practice that induces investors to make purchase or sale decisions on the basis of false information, frequently resulting in losses, in violation of the securities laws. Securities Arbitration. Generally speaking, securities fraud consists of deceptive practices in the stock and commodity markets, and occurs when investors are enticed to part with their money based on untrue statements.
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