(Sunday, March 25, 2012 – Austin, TX) Garteiser Honea’s litigator Christopher Johns won a complete defense verdict for Noble Capital in a multi-million-dollar securities fraud case. The jury found Noble not liable in a jury trial held before the Honorable Sam Sparks in the United States District Court for the Western District of Texas. The Court upheld the jury’s verdict and entered judgment in favor of the Defendants.
In the case, three New York businessmen brought multi-million-dollar claims against Austin real estate developer Jadon Newman and his company Noble Capital based on allegations of fraud in connection with Central Texas commercial real estate investments between 2006 and 2009. Their claims ranged from negligent misrepresentation to violations of federal and Texas securities laws.
Johns added, “Co-counsel and I were brought into the case late in the game. Fortunately, we were able to systematically show the judge and the jury why the claims against Newman and his company were meritless. In our legal system, justice isn’t always swift. But we believed in the system and are thankful that justice ultimately prevailed.”
“The jury decision confirmed what all Central Texans already know. Austin’s commercial real estate market suffered a severe downturn in 2008 and 2009, costing developers and investors a lot of money,” said Noble’s attorney Chris Johns. Rather than accept their losses, these investors and their Miami lawyer unjustly accused Jadon Newman and his companies of fraud. Noble and Mr. Newman are very satisfied with the jury’s verdict.
