Post by Logan on Jun 13, 2016 21:23:57 GMT -6
Plano financial adviser, father lose $13.4 million verdict to former high school classmate
A Plano financial adviser and his father lost a court case in Kentucky last week when a jury found the duo had defrauded the son’s former high school classmate and breached a contract over the assets of a crane company they co-founded.
A Jefferson Circuit Court jury determined Tom Eifler Jr. and his father, Thomas O. Eifler Sr., had defrauded Ardie Greenamyer and breached a back-of-an envelope deal that guaranteed Greenamyer half of the assets for their business, Eifler Tower Crane and Hoist Co., according to The Louisville Courier-Journal. The jury awarded Greenamyer $13.4 million, including $7 million in punitive damages, after a seven-day trial.
Eifler Sr. is the mayor of Indian Hills, Kentucky and owns Eifler Advisory Group, a retirement and estate planning firm in Louisville. Eifler Jr. is president of the firm’s Lone Star State unit in Plano.
The trial was centered around testimony from 15 witnesses and more than 14,000 pages of documents, including a June, 15, 2006, Courier-Journal article about Eifler Jr. and Greenamyer. According to that story, the former high school classmates and helicopter pilots came up with the idea when they flew commercial rescue missions to New Orleans in the aftermath of Hurricane Katrina. A year later, they wrote up a deal on an envelope while skiing together in Utah for a venture that would buy cranes and hoists and rent them to construction contractors.
Read more: bizbeatblog.dallasnews.com/2016/06/plano-financial-adviser-father-lose-13-4-million-verdict-to-former-high-school-classmate.html/
A Plano financial adviser and his father lost a court case in Kentucky last week when a jury found the duo had defrauded the son’s former high school classmate and breached a contract over the assets of a crane company they co-founded.
A Jefferson Circuit Court jury determined Tom Eifler Jr. and his father, Thomas O. Eifler Sr., had defrauded Ardie Greenamyer and breached a back-of-an envelope deal that guaranteed Greenamyer half of the assets for their business, Eifler Tower Crane and Hoist Co., according to The Louisville Courier-Journal. The jury awarded Greenamyer $13.4 million, including $7 million in punitive damages, after a seven-day trial.
Eifler Sr. is the mayor of Indian Hills, Kentucky and owns Eifler Advisory Group, a retirement and estate planning firm in Louisville. Eifler Jr. is president of the firm’s Lone Star State unit in Plano.
The trial was centered around testimony from 15 witnesses and more than 14,000 pages of documents, including a June, 15, 2006, Courier-Journal article about Eifler Jr. and Greenamyer. According to that story, the former high school classmates and helicopter pilots came up with the idea when they flew commercial rescue missions to New Orleans in the aftermath of Hurricane Katrina. A year later, they wrote up a deal on an envelope while skiing together in Utah for a venture that would buy cranes and hoists and rent them to construction contractors.
Read more: bizbeatblog.dallasnews.com/2016/06/plano-financial-adviser-father-lose-13-4-million-verdict-to-former-high-school-classmate.html/