Case Summary

Grayslake Advisors was retained by Leonard, Dicker & Schreiber LLP on behalf of plaintiff investors in a matter alleging breach of fiduciary duty and fraud arising from a series of commercial real estate syndications in which the defendant allegedly engaged in self-dealing, misrepresenting the actual purchase prices of acquired assets and the equity capital required from investors. Grayslake conducted a forensic analysis of the at-issue transactions, tracing the prices paid by investors against the original acquisition costs and fair market values of the underlying properties, and developed a damages model quantifying the alternative investment returns plaintiffs would have been entitled to receive under a rescission remedy. After Paul Habibi testified in trial in Los Angeles County Superior Court, the jury returned a verdict of $13.4 million that fully adopted his damages model.