A Texas jury awarded $19. 5 million to relatives who brought a wrongful-death suit against Emeritus Assisted Living. The relatives of Florine...
Emeritus Assisted Living
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A Texas jury awarded $19.5 million to relatives who brought a wrongful-death suit against Emeritus Assisted Living.
The relatives of Florine Ofczarzak, who lived in a San Antonio home, claimed that Emeritus’ negligence caused the elderly woman’s death in 2003. The Seattle-based company says it will appeal.
“It was a tragic event,” Emeritus’ lawyer, Thomas Stanley, said yesterday. “But at the same time, this is an unfair verdict.”
The award included $18 million in punitive damages and $1.5 million in compensatory damages.
Board: No opinion on Blockbuster bid
Hollywood Entertainment, which favors a purchase bid by Movie Gallery, said its board has no opinion on whether bondholders should tender notes in Blockbuster’s offer to buy $225 million in company debt.
Hollywood Entertainment, the second-largest U.S. movie-rental chain, isn’t making a recommendation to debt holders because the board doesn’t owe them a fiduciary duty, the company said yesterday in a statement.
The retailer last week endorsed Movie Gallery’s offer of $13.25 in cash. It rejected Blockbuster’s bid of $14.50 a share in stock and cash, saying it posed antitrust risks.
Compiled from Seattle Times business staff and Bloomberg News