KRCL Obtains Appellate Victory in Oil & Gas Investment Fraud Case

On May 26, 2011, Kenneth Johnston and Julie Biermacher obtained an appellate victory affirming a $1.5 million judgment rendered in an oil and gas investment fraud case.  After securing judgments against the two principal defendants, plaintiffs proceeded to a bench trial against the last remaining defendant.  After trial, the Court found in favor of the plaintiffs and awarded  $1.5 million in damages.  The defendant appealed the trial court's judgment, arguing that the evidence did not support a finding that defendant acted as a control person and otherwise aided and abetted violations of the Texas Securities Act.  The Court of Appeals unanimously affirmed the trial court's judgment and upheld the $1.5 million judgment against the defendant.

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