United States Eighth Circuit

In a securities-related action wherein default judgment was entered against defendant in the amount of $67.5 million for damages, denial of defendant's motion to set aside the default judgment is affirmed where: 1) defendant was properly served, evaded service of process, and thus was not blameless for his failure to timely appear; 2) defendant failed to establish the existence of a meritorious defense; and 3) reopening the matter would be prejudicial to the parties in light of the amount of time that had lapsed. However, because there was no adequate record to evaluate the district court's damage determinations, matter is remanded for the district court to make findings regarding the evidentiary support and any necessary calculation for any damage award it may enter.

Appellate Information

• Decided 04/30/2008
• Published 04/30/2008

Judges

• GRITZNER, District Judge., Before WOLLMAN and SMITH, Circuit Judges, and GRITZNER, District Judge.

Court

• United States Eighth Circuit

Counsel

• For Appellant:
  
• George B. Newhouse, argued, Los Angeles, CA, for appellant.


• For Appellees:
  
• James Lloyd Volling, argued, Minneapolis, MN (Jessica R.F. Grassley, Minneapolis, MN, on the brief), for appellee.