Sidley recently secured a trial victory for Solargenix Energy, LLC in an Illinois court, obtaining an award of $134,500,801 in damages.
The five week bench trial in 2016 concluded over six-and-a-half years of litigation. The lawsuit was against Acciona S.A. and Acciona Energia, S.A., and two of their U.S. subsidiaries, and concerned the joint company that Solargenix and Acciona had formed to develop solar power plants around the world. The court concluded that Acciona breached the parties’ joint venture agreement “at every turn,” breached its fiduciary duties to Solargenix, and tortiously interfered with the parties’ joint venture agreement by secretly negotiating a partnership with another company, all of which collectively caused the value of the joint company to wither away.
Sidley Austin advised Solargenix Energy, LLC with Thomas K. Cauley, Jr. (Picture), Robert N. Hochman, and Ashley K. Martin.
Mayer Brown advised Acciona with a team including Michele Odorizzi, Michael R. Feagley, and Ethan A.Hastert.