FOR IMMEDIATE RELEASE

BALESTRIERE FARIELLO ACHIEVES FANTASTIC RESULT AT TRIAL IN FRAUD AND BUSINESS TORT CASE

Obtains Reward for Clients of Twice the Clients' Out of Pocket Losses

NEW YORK, March 16, 2009

Balestriere Fariello tried to a successful jury verdict in federal court in New York a case against a financial services company which defrauded a medical practice out of hundreds of thousands of dollars.  The financial services company claimed the medical practice members could obtain significant tax savings by creating a particular form of retirement plan -- one which would result in significant fees for the financial services company defendant.  However, the defendant company actually forced the doctors into an illegal tax shelter, resulting in the doctors' losing hundreds of thousands in premium payments, lost investment income, and legal fees to attorneys who unsuccessfully handled the case before Balestriere Fariello was engaged.

Once engaged, staff at Balestriere Fariello pushed the case through discovery to trial, rejecting low settlement offers along the way.  At trial, lawyers at the firm argued to a jury that the doctors should not only be made whole but receive punitive damages.  The jury agreed, awarding full compensatory damages, plus a punitive damages award in the hundreds of thousands.  Along with the pre-judgment interest that the clients achieved as a matter of right in New York, the award the clients obtained is more than twice what they lost out of pocket and even spent on expenses and legal fees.  It was a complete success obtained by the hard work, diligence, unwillingness to give up, and trial skills of Balestriere Fariello staff.

"Any litigation, and especially any trial entails risk," said John Balestriere.  "But we were willing to share the risk with the clients to push this case to trial.  We could not have asked for a better result for them."  Balestriere Fariello lawyers also handle appeals in state and federal courts, and were prepared to defend the result if the defendant appealed.  "But the defendant apparently had had enough, " according to Balestriere, "and decided to settle the case in a manner which made our clients very happy."

Balestriere Fariello is a trials and investigations law firm. We represent individuals, companies, and institutions in complex civil and criminal matters — in trial and appellate courts, in intense negotiations, during arbitrations, and before grand juries, securities regulators, and government agencies.

We focus on difficult cases, being paid based on the results we obtain and NOT simply for the effort we devote to a case, often after conducting our own thorough investigations into allegations of fraud and misconduct.

Our firm is unique: unlike most firms, we combine a complex and sophisticated litigation background and hard nosed negotiation experience with the willingness and ability to push cases to trial and win at trial.

Contact:
Marc Natale
mnatale@balestriere.net