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Real Estate/Development

Oct. 19, 2011

Jury hands developer $50 million verdict

A Newport Beach-based developer has won a $50.3 million jury verdict in a lawsuit alleging an investment fund cut them out of a joint venture involving four prominent Hollywood properties.

By Ciaran McEvoy

Daily Journal Staff Writer

A Newport Beach-based developer has won a $50.3 million jury verdict in a lawsuit alleging an investment fund cut them out of a joint venture involving four prominent Hollywood properties, including the Hollywood Palladium concert hall.

The Los Angeles County Superior Court jury awarded Newport Capital Advisors, represented by Alan A. Greenberg and Wayne R. Gross of Greenberg Traurig LLP, more than $16.3 million in compensa...

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