Zander Insurance Group has been awarded nearly $8 million in District Court, where it had accused a division of Indiana-based accounting firm Katz Sapper & Miller LLP of negligence, misrepresentation and breaching its fiduciary duty when it advised the local company during its conversion to an employee stock ownership plan. Katz Sapper & Miller's leaders plan to appeal the jury verdict to the Sixth Circuit Court of Appeals.
The damages should help to offset the loss Zander incurred since there was no way to adjust the final sales price, Zander said. “I’m appreciative of the jury and the judge for the way it was handled,” he said. “It was a complicated case and they took the time to listen to the details the entire time.”