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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
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’
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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