Andy Low wins multimillion-dollar appeal – again!

Burglars broke into a warehouse in Aurora, Colo., ransacked it for hours and set it on fire. Despite a sophisticated burglar alarm system, which sent multiple warnings, the alarm company never called the police. The 2002 fire destroyed millions of dollars of inventory owned by Core-Mark International, one of North America’s largest distributors of merchandise to convenience stores.

Recently, DGS Partner Andy Low delivered an appellate victory to Core-Mark and its insurers, which had sued Sonitrol Corp., the company that installed and monitored the burglar alarm. The decision extended Low’s win streak to 20 of his last 21 appeals.

On July 24, the Colorado Court of Appeals reversed the trial court’s dismissal of Core-Mark’s lawsuit and reinstated the case, agreeing with Low’s argument that a clause in Sonitrol’s contract limiting its liability to $500 was unenforceable if Core-Mark could prove that Sonitrol’s failure to call the police amounted to willful and wanton conduct.

The appellate court also agreed that Core-Mark had produced enough evidence for a jury to find that Sonitrol’s conduct was willful and wanton.

DGS associates Liz Titus and Geoff Klingsporn assisted Low. For more information on the case, please click here.

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SEC Issues Emergency Order:
Section 13F Filers Must Make Weekly Disclosure of
Short Sales

The SEC issued an emergency order on Sept. 19, 2008, requiring certain institutional investment managers to electronically file with the SEC a new form, Form SH, disclosing any short sale transactions that occurred during the prior week.  Any institutional investment manager that has filed or was required to file a Form 13F for the quarter ended June 30, 2008, is subject to the new requirement.  A Form SH is due on the first business day of every calendar week immediately following a week in which the investment manager effected short sales.   The first report will be due Sept. 29, 2008, for short sales effected during the week of Sept. 22, 2008.

For more information, please click here.  Form SH can be found here.  And its instructions here.




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