United States First Circuit

In a suit involving a claim of breach of fiduciary duties and a counterclaim alleging breach of a promissory note relating to an insurance underwriting business, denial of defendants' motion for judgment as a matter of law after a judgment for plaintiffs is reversed where: 1) even assuming that there was a breach of fiduciary duties, plaintiffs presented insufficient evidence that the breach caused them harm; and 2) defendants set forth undisputed documentary evidence that plaintiffs executed the promissory note, received the benefits thereof, and failed to make payment. Denial of plaintiffs' motion for attorney's fees is affirmed since the plaintiff was no longer the successful party, and Rule 11 sanctions entered against plaintiffs' attorney are affirmed where the court did not abuse its discretion in determining that the attorney had needlessly increased the cost of litigation.

Appellate Information

• Decided 06/11/2007
• Published 06/11/2007

Judges

• TORRUELLA, Circuit Judge., Before TORRUELLA, Circuit Judge, STAHL, Senior Circuit Judge, and HOWARD, Circuit Judge.

Court

• United States First Circuit

Counsel

• For Appellant:
  
• Thomas R. Kiley, with whom Cosgrove, Eisenberg & Kiley, P.C. was on brief, for cross-appellant.


• For Appellees:
  
• Allen N. David, with whom Terri L. Pastori and Peabody & Arnold LLP, were on brief, for defendants-appellants/cross-appellees., Joseph H. Reinhardt, J.D., with whom Edwin A. McCabe, was on brief, for plaintiff-appellee/cross-appellant.