Gerald M. Dunne v. Peter E. Libbra

LOKEN, Chief Judge.

Gerald Dunne purchased Peter Libbra’s controlling interest in Prairieland Construction, Inc. for $1,250,000, paying $200,000 cash and delivering an installment promissory note for the balance. When Libbra demanded payment on the note, Dunne sued Libbra for fraud under Missouri law. In an earlier appeal, we held that a forum selection clause in the purchase agreement did not bar a diversity suit in the Eastern District of Missouri. Dunne v. Libbra, 330 F.3d 1062 (8th Cir.2003). On remand, Libbra counterclaimed for fraud and breach of contract. After a five-day trial, the…