Bartlit Beck Defeats Billion Dollar Claim, Wins Jury Trial for Forstmann Little
Fred Bartlit and Hamilton Hill defeated a claim against the investment firm Forstmann Little in this highly watched trial in which the Treasurer of the State of Connecticut sought damages for investment losses to the state pension fund. After a five-week trial, although the jury found breaches of fiduciary duties and contract, the jury agreed with Forstmann Little’s affirmative defenses as the state knew of the investments at issue and had approved of them at the time. Because the jury did not find Forstmann Little liable, it did not even reach the issue of damages.
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