Plaintiffs Shareholder Corporation v. Southern Farm Bureau Life Insurance Co.

On March 19, 2009, a jury in Federal Court for the Middle District of Florida returned a verdict for our client, Plaintiffs Shareholder Corporation (PSC), against Southern Farm Bureau Life Insurance Co. and awarded PSC $31.7 million in damages. PSC claimed that it was defrauded when Southern Life purchased its convertible debenture. Compass Lexecon expert Charles Cox testified that Tillinghast-Towers Perrin's valuation of the debenture (the valuation provided to PSC by Southern Life) underestimated its value by at least 91% and that PSC suffered an economic loss of $31.7 million. Rajiv Gokhale, Laurel Van Allen, Agustina Levy, and Jessica Mandel of our Chicago office provided support in the case. We worked with Jerry Linscott of Baker and Hostetler LLP in Orlando, FL.