Norte & Company v. Huffines

MANSFIELD, District Judge.

Following non-jury trial of this consolidated derivative stockholders’ action in which Defiance Industries, Inc. (“Defiance” herein) was awarded damages in the sum of $3,199,297, plus interest, defendants Muscat and Huffines move for a new trial pursuant to Rules 52, 59 and 60, F.R.Civ.P., or, alternatively, for rehearing on the issue of damages on the ground of newly discovered evidence and that the damages awarded are excessive.

The damages awarded in favor of Defiance against the individual defendants Muscat and’ Huffines, directors of Defiance, resulted from two…