Articles About Real Estate Broker

Klinedinst Helps Coldwell Banker Successfully Defend Real Estate Agent Accused of Fraud in Multi-Million Dollar Building Sale

Santa Ana, CA (PRWEB) June 7, 2007 -- Kevin J. Gramling, shareholder from the Santa Ana office of Klinedinst PC, and Thomas Thrasher, Jr. of Coldwell Banker Residential Brokerage recently won a jury verdict in a case alleging that a real estate agent breached his fiduciary duty in the sale of a commercial building.



The case involved a two-story medical building in Costa Mesa, California. The building was owned by Paularino Holdings, LP, and contained a fully operational surgical center. In April of 2005, Paularino hired a Coldwell Banker agent to assist in the sale of the medical building and surgery center. Over the next few months, numerous offers and counter-offers were exchanged between Paularino and a prospective buyer, and both parties entered into a sales contract in September, 2005.

According to court documents, Paularino informed the buyer a few weeks before the close of escrow that the license to operate the surgery center would not be transferred to the buyer unless the buyer paid an additional $400,000. The buyer refused, and filed a Temporary Restraining Order to prohibit Paularino from returning the license to the Department of Health Services. Both parties eventually settled their dispute under confidential settlement terms.

Paularino sued its agent and Coldwell Banker for negligence, breach of fiduciary duty, and fraud. Paularino demanded $750,000 to settle the case. Kevin Gramling, who has previously defended agents in these types of actions, was called in to represent Coldwell Banker and the agent. The case was tried to a jury in Orange County Superior Court. Paularino asked the jury to award $780,000 to $940,000.

After weighing the evidence, the jurors agreed with Coldwell Banker's arguments, and found that the agent's actions did not result in any actionable damages for Paularino. The jurors rendered a defense verdict on all claims for Coldwell Banker Residential Brokerage and its agent.

The case was Paularino Holdings LP, Dr. Kamran Ghodsian et al. v. Coldwell Banker Residential Brokerage, et al. (Orange County Superior Court, Index No. 05CC13271)

Klinedinst congratulates Kevin J. Gramling for his successful defense of Coldwell Banker in this complicated commercial property transaction.

For more information on Mr. Gramling and his qualifications, please visit:

www.klinedinstlaw.com/profiles/attorney/kevingramling/

About Klinedinst

Klinedinst PC has achieved the highest rating for legal ability and ethical standards by Martindale-Hubbell. We are a full service firm engaged in litigation and transactional law practice throughout the State of California, and serve our clients from offices in San Diego, Orange County, Los Angeles, and Sacramento. For more information about the firm, please visit our "About" section online at www.klinedinstlaw.com.

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