Jadon Newman and Noble Capital Vindicated

Federal Court Jury Finds in Favor of Austin Real Estate Developer in $1 Million Lawsuit
By: Noble Capital through Law office of Ryan H Downton
 
 
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Jadon Newman
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Streamline Funding
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Austin - Texas - US

Aug. 29, 2011 - PRLog -- AUSTIN – Judge Sam Sparks entered judgment today in favor of twelve defendants unjustly accused of securities fraud in a jury trial that concluded this week in the United States District Court for the Western District of Texas.  

In the case, three New York businessmen sought over a million dollars from Austin real estate developer Jadon Newman, his company Noble Capital, and ten affiliated companies based on allegations of fraud in connection with Central Texas commercial real estate investments between 2006 and 2009.  Their claims ranged from negligent misrepresentation to violations of federal and Texas securities laws.  After nearly a week of testimony, Judge Sparks threw out most of the case, concluding that no reasonable jury could find in the plaintiffs’ favor on most of their claims.  Only claims for negligent misrepresentation went to the jury, who took only a few hours to find unanimously for the defendants on all issues.  

The defendants were represented at trial by Ryan Downton, of the Law Offices of Ryan Downton, and Chris Johns of Austin.  “The jury decision confirmed what all Central Texans already know.  Austin’s commercial real estate market suffered a severe downturn in 2008 and 2009, costing developers and investors a lot of money,” said Noble’s lead trial attorney, Ryan Downton.  “Rather than accepting their losses, these out-of-state investors and their Miami lawyer unjustly accused Jadon Newman and his companies of fraud.”

Johns added, “Ryan and I were brought into the case late in the game.  Fortunately, we were able to systematically show the judge and the jury why the claims against Jadon Newman and his companies were meritless.  In our legal system, justice isn’t always swift.  But we believed in the system and are thankful that justice prevailed in the end.”

“Here,” noted Downton, “Mr. Newman’s reputation was dragged through the mud for two years, and the case cost him hundreds of thousands of dollars in attorneys’ fees.  It is disappointing that the legal system doesn’t have a mechanism to hold people accountable for filing frivolous lawsuits like this one.  I hope this judgment sends a strong message to anyone else considering frivolous claims, but the problem will persist until the system is reformed.”

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Noble Capital’s team is dedicated to building strong, long lasting relationships—
with our investors/lenders and within the commercial real estate industry—that
allow us to provide a higher level of client services.
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Tags:Jadon Newman, Noble Capital, Streamline Funding, Frivolous Lawsuit, Fraud
Industry:Real Estate, Finance
Location:Austin - Texas - United States
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