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Showing Original Post only (View all)"Frivolous lawsuit" opponent William Koch wins $12 million lawsuit over 24 bottles of wine [View all]
Billionaire William Koch wins $12 million in wine dispute
By Bernard Vaughan
NEW YORK | Fri Apr 12, 2013 5:29pm EDT
(Reuters) - A federal jury in New York on Friday awarded $12 million in punitive damages to U.S. billionaire William Koch in his dispute over the alleged misrepresentation of 24 bottles of wine he bought at auction.
Koch, 72, said he may use the proceeds to establish a fund to confront auction fraud and wine fraud.
snip
Koch filed a federal lawsuit in 2007, accusing Greenberg, the San Francisco-based founder of several Internet companies, of fraud and misrepresentation and seeking $320,000, the amount he paid for the 24 bottles.
snip
Koch, whose brother David Koch is a major supporter of conservative political causes, settled a separate lawsuit with the auction house in 2011, details of which were kept private.
By Bernard Vaughan
NEW YORK | Fri Apr 12, 2013 5:29pm EDT
(Reuters) - A federal jury in New York on Friday awarded $12 million in punitive damages to U.S. billionaire William Koch in his dispute over the alleged misrepresentation of 24 bottles of wine he bought at auction.
Koch, 72, said he may use the proceeds to establish a fund to confront auction fraud and wine fraud.
snip
Koch filed a federal lawsuit in 2007, accusing Greenberg, the San Francisco-based founder of several Internet companies, of fraud and misrepresentation and seeking $320,000, the amount he paid for the 24 bottles.
snip
Koch, whose brother David Koch is a major supporter of conservative political causes, settled a separate lawsuit with the auction house in 2011, details of which were kept private.
http://www.reuters.com/article/2013/04/12/us-usa-court-wine-idUSBRE93B11C20130412
In other news the Koch Brothers will continue to use their right-wing think tanks to convince people to support tort reform in order to stop "frivolous lawsuits" against major polluters. They will also start another major campaign against poor people's wasteful spending habits while they spend hundreds of thousands of dollars on wine.
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"Frivolous lawsuit" opponent William Koch wins $12 million lawsuit over 24 bottles of wine [View all]
Bjorn Against
Apr 2013
OP
IMO, he was speaking somewhat with nostalgia after Oct 1939 because they were no longer married.
AnotherMcIntosh
Apr 2013
#44
The wine fraud crisis has reached critical mass in the rarified world of the ruling class.
valerief
Apr 2013
#24
are you sure it's a completely different family? i've read it's the same family, though i've not
HiPointDem
Apr 2013
#35
Great wealth can apparently overcome the punitive-damages guidelines of the Supreme Court
AnotherMcIntosh
Apr 2013
#42
The $12mil was punitive damages - Koch didn't, legally couldn't, ask for that much.
sir pball
Apr 2013
#46