U.S. Global v. Progress Energy

VERDICT

Trial
10/05/09 – 10/21/09

Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2
Play button overlay 45f08f27c7337d189e8c31e635b5d0a0781b273131135cd77ee8b6f12366e7a2

Summary

3-week jury trial in Broward County's complex litigation division.

U.S. Global claimed that it was entitled to receive a 20% commission for selling up to 50% of Progress Energy's interests in coal-derived synthetic fuel (synfuel) facilities, but was prevented from doing so. U.S. Global had negotiated its right with Florida Progress, before Florida Progress merged with Carolina Power & Light, which created Progress Energy. U.S. Global sought $103,423,215 in damages.

Progress Energy contended that U.S. Global was a non-exclusive broker, and that Progress Energy was entitled to sell its interest without U.S. Global's assistance, and was entitled to negotiate a brokerage agreement with another company.

The jury found that Progress Energy breached the asset purchase agreement, and U.S. Global suffered damages of $35,205,261. The jury also found that Progress Energy breached the commission and services agreement, and U.S. Global suffered damages of $43,043,232. The total damage award was $78,248,493.

Outcome

Asset purchase agreement damages: 35,205,261
Commission and services agreement damages: 43,043,232

Sessions

AM Session
Not in Session
0 Chapters
OCT
6
AM Session
Plaintiff Witness(es)
3 Chapters
PM Session
Plaintiff Witness(es)
3 Chapters
OCT
7
AM Session
Plaintiff Witness(es)
4 Chapters
OCT
12
AM Session
Defense Witness(es)
2 Chapters
OCT
19

Recording Disclaimer: This proceeding was recorded in full.

Suggest a Trial

Want to see a trial that you don't see in our list of upcoming trials?

Suggest a Case

CVN Essentials

The most important and informative moments of each trial

CVN Essentials

Video Library

Unlimited access to thousands of hours of past coverage of high stakes civil litigation

Video Library

  • Follow Us
  • Contact Us
  • 3901 Roswell Road
  • Suite 302
  • Marietta, GA 30062
  • 877-838-9067

Copyright 2019 Courtroom Connect.