Vedder Thinking | News Vedder Price Brings Breach of Contract and Interference Case to Conclusion Via Complete Defense Jury Verdict in Federal Court
February 24, 2017
Vedder Price recently represented Security Life of Denver Insurance Company and its parent company, ING U.S., Inc. (now known as Voya Financial, Inc.), in a notable litigation win.
An insurance agency accused Security Life of breaching a 2011 agreement relating to the parties’ efforts to develop and potentially sell a unique, complex universal life insurance product. The agency accused ING U.S. of interfering with the contract. The agency sought compensatory damages of over $23 million (for alleged lost commissions) and an additional $46 million in punitive damages. After a month-long trial in federal court in Chicago, the jury deliberated for less than one hour and found entirely in favor of Security Life and ING U.S., awarding the agency nothing. The trial team included Vedder Price Shareholder Jim Garvey and Associate Nicole Highland, who were assisted by Counsel Fred Knape, Associate Andrew Barrios and Paralegal Shannon Wysocki.
“We are very happy that the jury found in our clients’ favor after a full vetting of the underlying facts,” said Mr. Garvey. “Our clients and trial team worked tirelessly to bring this case to a successful conclusion in the trial court.”