Robert Zivitz and Nancy Zivitz v. Joel Greenberg
Court of Appeals for the Seventh Circuit
1Opinion of the Court
ILANA DIAMOND ROVNER, Circuit Judge.
Robert and Nancy Zivitz brought this action alleging that several defendants cost them millions of dollars in investments by participating in an insider trading scheme involving Incomnet, a telephone service reseller. The plaintiffs eventually settled with all of the defendants except one— Incomnet board member Joel Greenberg. A jury later found Greenberg liable for fraud and awarded the plaintiffs $1 million in damages. After the jury returned its verdict, Greenberg moved to reduce the damages award by the amount previously paid to the plaintiffs by the…
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