Domina Law Group pc llo served as trial counsel in successful litigation
against a public insurance company whose executives and inside directors
were charged with abusing the company’s assets and resources.
The suit, tried in US District Court, Middle District of Oklahoma, resulted
in a jury verdict requiring that the company’s executives repay
substantially all that shareholders paid for stock they claimed had been
fraudulently sold. The suit, spearheaded by the company’s largest
single shareholder who did not hold a management position, also resulted
in a favorable jury verdict turning away, and denying any relief whatsoever,
on nearly $25 million in counterclaims asserted against the large shareholder.
The suit developed when an attempt by management to take the insurance
company private was thwarted by the lead shareholder who engaged Domina
Law Group pc llo as trial counsel. The shareholders announced objective
in rebuffing the attempt to “go private” was clear. It believed
inside management was trying to buy the stock far too cheaply, thereby