MSB Secures $4 Million Dollar Judgment
Anthony Sodono, III and Sari B. Placona obtained summary judgment on behalf of MSB’s client in the amount of $4,000,000, plus interest. The client has been and continues to be involved in an estate litigation for the past seven years in the Superior Court of New Jersey - Monmouth County. The litigation involves a dispute between the client and his brother as a defendant. The brother/defendant was appointed as the trustee for an insurance trust. Initially, MSB was successful in removing the brother/defendant as a trustee for, among other reasons, breaching his fiduciary duty and acting in bad faith by trading millions of dollars in stock on margin without obtaining the client’s consent. Thereafter, MSB prevailed on the motion for summary judgment resulting in an immediate payment to the client of $1 million and a judgment in the amount of $3 million. Further, MSB successfully litigated a dispute regarding an estate property in Deal, New Jersey which compelled the sale of the property bringing over $7 million into the estate.