REID COLLINS WINS $112 MILLION UNANIMOUS JURY VERDICT FOR JW ALUMINUM IN FEDERAL TRIAL VICTORY [Yahoo! Finance]
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Source: Yahoo! Finance
Collins”) secured a unanimous jury verdict in favor of JW Aluminum Company (“JWA”) in the U.S. District Court for the District of South Carolina. The jury awarded JWA over $112 million—before accounting for five years of pre-judgment interest—after finding that a group of insurers breached their obligations under an “all-risk” policy following a catastrophic incident at JWA's Goose Creek manufacturing facility. After a five-day jury trial and testimony from more than a dozen witnesses, the jury found that the insurers had wrongfully denied coverage for both the physical damage to JWA's equipment and the resulting business interruption. The jury awarded the maximum possible recovery: approximately $32.3 million for repair and replacement costs and the full $80 million policy sub-limit for business-interruption losses. “I could not be happier for our client — or prouder of my team,” said William T. Reid, IV, co-founder of Reid Collins. “This was a total team victory. Everyone contri
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