Quote:
Originally Posted by Kenny Cole
Peter,
I'm not wishing anything. I agree that it would be a difficult case. But I also think that some of the buyers could probably come up with something other than the purchase price which would get you to the jury. Buyer's fee on purchase then private sale, whatever. The capital gains tax issue for the one winner suggested above is an interesting thought.
If you get to the jury on punis then all bets are off. It probably wouldn't cost too much to try either. A couple of depositions and a summary judgment response. Give it to a young lawyer who needs courtroom time and let them run with it.
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So Jim Copeland pays 125K, sells for 461K less Sotheby's cut, and he has a fraud claim that gets him to a jury for punitive damages. OK. If you say so.
Or Brian Siegel who bought for $1M plus and sold for $2M plus. Yeah, he would make an excellent fraud plaintiff.