Client William Koch Wins $12 Million Punitive Damage Jury Award Against Silicon Valley Entrepreneur Eric Greenberg
On April 11, 2013, a jury in the U.S. District Court for the Southern District of New York found for our client, Florida energy executive and wine collector William Koch, in his lawsuit against Silicon Valley entrepreneur Eric Greenberg concerning 24 bottles of wine that Mr. Greenberg sold to Mr. Koch at a 2005 Zachys auction. The jury found that Mr. Greenberg had committed fraud and violated Sections 349 and 350 of New York's General Business Law, awarding Mr. Koch $379,000 in compensatory and treble damages. On April 12, the same jury awarded an additional $12 million in punitive damages to Mr. Koch. Together with attorneys from Irell & Manella, Mr. Koch was represented by Morvillo Abramowitz partner Edward M. Spiro and associate Adam Pollock.