(Virginia Lawyers Weekly)
Plaintiffs alleged that defendant, who sewed as the trustee for several family trusts, had violated his duty of care and loyalty. Plaintiffs sought damages for his misfeasance/negligence while serving as the trustee. Defendants have noted an appeal and ALPS is contesting coverage.
Type of action: Breach of fiduciary duty
Name of case: Ivan L Higgerson Sr & Sandra H. Butt as Co-Executors of the Estate of Edith A. Higgerson at al. v. Philip R. Farthing, and Philip R. Farthing, P.C.,
Court: Chesapeake Circuit Court
Case no: CL14-2929
Tried before: Judge
Name of judge: Hon. John W. Brown
Date resolved: July 20, 2017
Verdict or settlement: Verdict
Amount: $2,550,788.55
Attorney for Plaintiff: : Gregory S. Larsen, Chesapeake
Plaintiff’s experts: Robert C. Miller; Patrick E. Corbin, CPA; Elizabeth T. Patterson, CFP
Defendant’s experts: Jo Ann Blair-Davis
Insurance carrier: ALPS
