Ventas (VTR) Announces HCP Denied New Trial for Tortious Interference with Business Expectations; Awarded $101M in Compensation
Ventas, Inc. (NYSE: VTR) today announced that the United States District Court for the Western District of Kentucky has denied HCP Inc.'s post-trial motions requesting judgment in its favor and, alternatively, for a new trial in connection with the Company's verdict against HCP for tortious interference with business expectation. The Court also affirmed the jury's verdict in favor of Ventas for $101,672,807 in compensatory damages. The case arose out of the Company's acquisition of Sunrise Senior Living REIT in April 2007.
The Court stated in its Memorandum Opinion that the evidence "allowed a reasonable juror to determine that [HCP's] actions constituted fraudulent misrepresentations" and permitted "the jury's conclusion that the [HCP] press release was misleading and deceitful."
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