Callahan & Blaine Secures Victory for Sunwest Bank in Class Action Lawsuit
Oct 04, 2019 1:00 PM ET
Legal Newswire POWERED BY LAW.COM
SANTA ANA, Calif., Oct. 4, 2019—In a verdict handed down by the California Court of Appeals on September 30th, 2019, Callahan & Blaine, APLC was able to secure a much-anticipated victory on behalf of their client Sunwest Bank.
The California Court of Appeals affirmed an earlier trial court Judgment in favor of Sunwest Bank.
The case involved a complex securities class action in which Sunwest was being falsely accused of freezing out minority shareholders using Private Placement, Reverse Stock Splits and a Short Form Merger, none of which were found to be valid or true.
In upholding the correct earlier Judgment in favor of Sunwest, the Appellate court confirmed Sunwest Bank, in conjunction with its officers and directors, acted fairly and properly towards shareholders in each and every transaction that took place. The court found Sunwest fully complied with all of its fiduciary and statutory obligations.
Both the trial court and the California Court of Appeals found that the claims of the class action lawsuit were without merit.
Michael J. Sachs of Callahan & Blaine who represented Sunwest in the trial said the following, “Throughout this lengthy trial we knew we would be able to secure a victory on behalf of our client, we believed this was a meritless lawsuit from the beginning, and are proud of the work we were able to do in this case.”
Michael Sachs of Callahan and Blaine was also able to protect this victory upon appeal.
For more information, contact: Laurali Kobal, Firm Administrator, 714-241-4444, [email protected]
ABOUT MICHAEL J. SACHS: Michael J. Sachs is a principal at Callahan & Blaine where he focuses on Business Litigation and Class Action Litigation. Mr. Sachs is responsible for numerous multi-million dollar settlements and judgments in actions for and against fortune 500 companies and insurance companies. Recently, Mr. Sachs has been focusing on trying large class actions in various courts around California. Mr. Sachs is believed to have tried more class actions in California than any other attorney. To date, Mr. Sachs has recovered over $100 million for his clients. 714-241-4444 [email protected]
ABOUT CALLAHAN & BLAINE: Founded in 1984, Callahan & Blaine is California’s Premier Litigation Firm with record-breaking verdicts and settlements in all areas of complex litigation. With a current roster of more than 28 trial lawyers experienced and focused in virtually all civil practice areas, Callahan & Blaine offers civil litigants an impressive set of credentials and client service values. Our attorneys have more than 700 years of trial experience, and since 2003, our verdicts and settlements add up to over $1.0 billion. Our law firm represents consumers and corporate, professional and entrepreneurial clients of all sizes. https://www.callahan-law.com/
Contact Information:For more information, contact: Laurali Kobal, Firm Administrator, 714-241-4444, Laurali@callahan-law.com
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