Chestlen Development Lawsuit Ends with $174M Verdict Against Tutor Perini [Los Angeles Times (CA)]
Tutor Perini Corporation (TPC)
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Source: Los Angeles Times
Development, a real estate investment and development firm and owner of the 52-story, 755-room W Hotel and Element Hotel (Marriott) in Philadelphia, in a complex dispute against Sylmar-headquartered general contractor Tutor Perini Building Corp. and surety bond issuers. Chestlen has been pursuing Tutor Perini to recoup millions of dollars in damages for construction delays and defect repairs. After completion of the liability and damages phases of trial, the Philadelphia Court of Common Pleas issued an order and opinion on Monday, April 13, 2026, awarding compensatory damages in favor of Chestlen and against Tutor Perini in the amount of $174,681,212 arising out of Tutor Perini's breaches of contract. The Court also ruled that liquidated damages and pre-judgment interest would continue to accrue until entry of a final judgment. The damages decision follows an October 2025 liability ruling issued after a five-week bench trial, in which the Court found Tutor Perini liable for breach
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TPC
Earnings
- 2/26/26 - Beat
TPC
Analyst Actions
- 3/2/26 - UBS
TPC
Sec Filings
- 4/9/26 - Form ARS
- 4/9/26 - Form DEFA14A
- 4/9/26 - Form DEF
- TPC's page on the SEC website