PSM Holding Corp. v. National Farm Financial Corp.

ORDER GRANTING IN PART AND DENYING IN PART DEFENDANTS’ MOTION FOR RESTITUTION AND ATTORNEYS’ FEES

MARGARET M. MORROW, District Judge.

I. BACKGROUND

Defendant Larry P. Chao and his wife Julie Chao founded Business Alliance Insurance Company (“BAIC”) in the 1990s. The Chaos ran BAIC as a family business that provided insurance to small businesses, including small restaurants and grocery stores owned and operated by Asian Americans. BAIC was not profitable for many years after its founding; after the Chaos invested several million dollars and their own labor in the business, however, BAIC became…