Holland & Knight Appellate Team Secures Reversal of $18 Million Judgment on Behalf of Del Monte Fresh Produce Company
MIAMI – October 20, 2011 – Yesterday the Third District Circuit Court of Appeal reversed a lower court ruling against Holland & Knight client Del Monte Fresh Produce Company for nearly $18 million in damages stemming from a business dispute with Net Results, Inc.
In Net Results, Inc. v. Del Monte Fresh Produce Company the jury concluded that Del Monte breached a contract with Net Results, Inc., a company that provides IT consulting services, and awarded them $10 million in damages. The judge then added millions more in prejudgment interest and attorneys' fees and costs. On October 19, the Third District Court of Appeal affirmed the jury's findings concerning the breach of contract allegation, but accepted Del Monte's arguments and reversed the damage award.
Holland & Knight partners Rodolfo Sorondo, Jr. and Frances Guasch De La Guardia, both of the firm's Miami office, handled the appeal on behalf of Del Monte, successfully arguing that the calculations Net Results, Inc. used to estimate its lost profits were unrealistic and factually inaccurate.
In its decision, the Third District wrote, "This is a business damages case in which the computation of Net Results’ 'benefit of the bargain' losses requires grade-school arithmetic rather than a 'damages model' long on assumptions and short on facts. The jury’s award is neither reasonably certain nor supported by substantial competent evidence."