Plaintiffs represented by Dennis E. Wagner, partner, with the Law Firm of Wagner & Pelayes, LLP, filed a lawsuit against CONSTRUCTION MATERIALS TRANSPORTATION AND SERVICES, INC. (“ConMat”) and its principal Michael Stratton. The plaintiffs contended that they entered a joint venture agreement with ConMat and Michael Stratton whereby they agreed to provide capital and financing so work could be performed at jobsites in Colorado and San Diego. Plaintiffs contend that defendants misappropriated funds needed to pay the obligations of the joint venture.
Trial commenced on February 21, 2013, in the Indio Superior Court, the Honorable Randall D. White, Judge Presiding. On February 28, 2013, the Jury rendered a verdict in favor of plaintiffs in the amount of $441,714.24. Plaintiffs successfully proved that the defendants acted with malice, fraud and oppression. The jury awarded $75,000 in punitive damages against defendants. The total judgment entered against defendants totaled $516,714.24 plus costs.
Wagner & Pelayes LLP is a limited liability partnership serving clients in Riverside, San Bernardino, and Orange counties.