CARUSO TO GET MILLIONS MORE SUIT: GLENDALE GALLERIA OWNER SOCKED WITH PUNITIVE DAMAGES IN FIGHT AGAINST DEVELOPER.Byline: Alex Dobuzinskis Staff Writer A jury Tuesday told the owner of the Glendale Galleria The Glendale Galleria is a large 3 story regional shopping mall located in Glendale, Los Angeles County, California. It is the second largest mall in Los Angeles County. It is located in Downtown Glendale. to pay $15 million in punitive damages Monetary compensation awarded to an injured party that goes beyond that which is necessary to compensate the individual for losses and that is intended to punish the wrongdoer. to developer Rick Caruso for trying to keep a restaurant from opening in his outdoor mall. The punitive damages come on top of a $74 million judgment against Galleria owner General Growth Properties General Growth Properties (NYSE: GGP) is a publicly traded real estate investment trust in the United States. It is based in Chicago, Illinois. History The company was founded by two brothers, Martin and Matthew Bucksbaum, in 1954. that the same Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Superior Court jury issued last week. The verdict is the latest round in a long battle between General Growth and Caruso over his Americana at Brand Americana at Brand will be a large outdoor shopping community in Glendale, California. The site is owned by Caruso Affiliated, who owns many other commercial properties such as The Grove at Farmers Market in Los Angeles, CA. mall, which is being built next to the Galleria in Glendale. "The most important thing is that we were vindicated," Caruso said after the verdict. "It sends a message to this industry that you've got to play fair." During the seven-week trial, Caruso's attorneys argued that General Growth illegally threatened the Cheesecake Factory after it planned to open as an anchor tenant in the Americana mall. Fearing that General Growth would block it from opening in one of the company's 200 malls across the country, the Cheesecake Factory dragged its feet in coming to the Americana, forcing an 18-month construction delay for the center, said David Silva, an attorney for Caruso Affiliated. Before Tuesday's verdict, David Battaglia, an attorney for General Growth, asked jurors to award no punitive damages at all. The $74 million in compensatory damages A sum of money awarded in a civil action by a court to indemnify a person for the particular loss, detriment, or injury suffered as a result of the unlawful conduct of another. is enough, given that General Growth is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. and some investors bank their retirement on it, he said. "You awarded the plaintiff every last dollar that he asked for," Battaglia said. "Anything further is a windfall for the plaintiff and does harm to the people -- millions of people -- who hold stock in the company." But juror juror n. any person who actually serves on a jury. Lists of potential jurors are chosen from various sources such as registered voters, automobile registration or telephone directories. Jaime Gonzalez, 33, of Boyle Heights said after the verdict that the company had to be punished. "It's like a bully beating up a little kid on the school playground," Gonzalez said. "Time out isn't enough." The jury of 10 women and two men deliberated for about 45 minutes Tuesday before coming back with its $15 million judgment, bringing the total amount that General Growth will have to pay Caruso to nearly $90 million. The jury voted 9-3 Tuesday to award punitive damages. Adrianette Anderson, 32, of Angeleno Heights was one of the jurors who voted not to award Caruso any damages on top of the compensatory damages of $74 million. "I felt the amount that he asked for, he got -- the ultimate amount, the highest amount -- and I felt that that would suffice," Anderson said. The Americana at Brand, a 15.5-acre project with shops and apartments, is being built at Brand Boulevard and Harvard Street. It is scheduled to open in April 2008. alex.dobuzinskis(at)dailynews.com 818-546-3304 |
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