Won a trial verdict as co-counsel for a large financial services provider in a $75 million dispute.
WTO lawyers won a bench trial in Colorado District Court as co-counsel for a large financial services provider in a $75 million dispute over the company’s allegedly excessive administrative and advisory fees.
The outcome is one of the latest in a series of lawyer-driven cases brought by retirement plans across the U.S, whose members are recruited to be representative plaintiffs. The plaintiffs here alleged that out client’s retirement plans charged excessive advisory and administrative service fees and asserted damages claims of $75 million.
During cross-examination, the plaintiffs’ sole damages expert admitted that several opinions in his formal written report were erroneous. In her decision, the judge wrote that the expert was “thoroughly discredited” and his testimony was entitled to “no weight.” Following an 11-day bench trial, the court found that the plaintiffs’ claims were baseless and entered judgment for our client.