Speculative Damages

Recent Illinois Case: Kirkliauskas v Vernor Moran LLC

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In this unpublished order, the First District reversed a grant of summary judgment. The court held that there were factual issues regarding whether defendants alleged malpractice caused plaintiffs’ losses. In particular, there were questions of fact regarding whether the plaintiffs would have been successful in recovering property they lost through a tax sale but for defendants failure to take timely action to protest a tax deed.

Kirkliauskas v Vernor Moran LLC, 2016 IL App (1st) 152470-U

(This is for informational purposes and is not legal advice.)

Recent Illinois Case: Meriturn Partners, LLC v. Banner and Witcoff, Ltd.

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This recent case affirmed a $6,000,000 jury verdict against a law firm that allegedly committed negligence in conduct due diligence regarding an investment in a troubled company.  The First District denied the plaintiffs’ cross appeal arguing that trial court improperly excluded lost profits evidence.  The Court held that the lost profits damages related to a new business and were speculative.

Meriturn Partners, LLC v. Banner and Witcoff, Ltd., 2015 IL App (1st) 131883.

(This is for informational purposes and is not legal advice.)

Recent Illinois Case: Tuckaway Dev. LLC v. Schain, Burney, Ross & Citron, Ltd.

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In this recent case, the First District affirmed a $1,125 jury verdict in favor of legal malpractice plaintiff.  The plaintiff alleged that the defendant law firm negligently prepared and recorded a mortgage.   Among other things, the First District affirmed the trial court judge’s decision to bar evidence of lost profits because they were too speculative.

Tuckaway Dev. LLC v. Schain, Burney, Ross & Citron, Ltd., 2015 IL App (1st) 140621-U

(This is for informational purposes and is not legal advice.)

Sheppard v. Krol, 218 Ill. App. 3d 254, 578 N.E.2d 212 (1st Dist. 1991) (rejecting loss of chance theory)

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Sheppard v. Krol, 218 Ill. App. 3d 254, 578 N.E.2d 212 (1st Dist. 1991) (rejecting loss of chance theory)

Shehade v. Gerson, 148 Ill. App. 3d 1026, 500 N.E.2d 510 (1st Dist. 1986)

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Shehade v. Gerson, 148 Ill. App. 3d 1026, 500 N.E.2d 510 (1st Dist. 1986)