$200,000 Northern District Federal Court Verdict Against Regions Bank for Backing Out of Finance Deal
On February 9, 2011 a federal court jury in the Northern District (Western Division) returned a $200,000 verdict against Regions Bank in favor of PGP Investments, LLC. Here is the jury verdict.
Here is PGP's Complaint in the case. PGP alleged that Regions initially agreed to loan money to PGP in January 2008, but reneged on the agreement in the summer of 2008 as the financial markets collapsed. Taylor Boone, son of Ole Miss Athletic Director Pete Boone, was the Regions employee who was responsible for the deal.
David Shelton of Oxford represented PGP. Frank Holbrook of Butler Snow's Memphis office represented Regions. Chief Judge Michael Mills presided over the case.
