Dallas pension fund seeks rerun of $1.2 billion ‘tainted’ trial

By Katie Buehler (August 12, 2022, 4:43 p.m. EDT) – The Dallas Police and Fire Retirement System has asked a Texas state court for a new trial in its 1.2 lawsuit billion accusing the Townsend Group of failing to warn of the risks of investing in undeveloped land, saying its loss to the jury was ‘tainted’ by Townsend’s arguments that the lawsuit was fabricated by lawyers.

The Retirement System urged a Dallas County District Court judge in a motion Thursday to overturn a July jury verdict that cleared Townsend Holdings LLC of most claims in the lawsuit and found the company to Investment owed nothing for losses attributable to its negligence.

This verdict delivered…

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