Tuesday, June 1, 2010

Dwyane Wade Settlement!


Looks like a global one, too:
The trial pitting Miami Heat star Dwyane Wade against two former business partners who wanted $25 million after a restaurant deal went sour has come to a quick end, with the sides announcing a confidential settlement.

Court was delayed for unexplained reasons for nearly three hours Tuesday. All parties, including Wade, walked into the courtroom at 2:02 p.m., and the settlement was announced eight minutes later.

Judge Peter Adrien also said the sides worked out deals on other cases, which could include another trial that was scheduled in Miami brought by some of the ex-restaurant partners alleging Wade walked away from an agreement to license his name to for charter schools, and an antitrust suit over potential sales of memorabilia.

I've often wondered why cases like this settle only after the huge expenditure of time and money involved in getting the case ready for trial. (BTW, I'm not talking about cases where the insurance company needs to have it tried before putting any money on the table).

You would think sophisticated, experienced lawyers could evaluate their cases without having a jury seated and witnesses on the stand. I recognize there can be surprises -- a witness could really suck in court even though she was great at her depo -- but one would hope rational parties could figure out a way to avoid incurring expenses that are not really recoverable, along with the huge waste of time and resources (and trees!) that goes along with it.

18 comments:

  1. Shumie time for me and it's soon to be a job related shumie for the ^%$^*() Judge assigned this case. No doubt neither side wanted that "legal genius" "adjuicatin" the issues in the case.

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  2. Bubbe called-- she got her hands on a Bell & Howell 8mm projector, need something to watch your home movies on?

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  3. Can I borrow the van?

    Bubbes' Boyfriend

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  4. Bubbe is looking for HR Pufnstuff lunch box in mint condition. Willing to swap it for The Big Book of Nursery Rhymes on eight track.

    Bubbes' Grandson

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  5. I was before Judge Adrien this morning, and stacked on the right side of the court room were the Exhibits to be used (don't know which party). The highest number I saw - 607.

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  6. My bubbela called and your pet rock went Shumie.

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  7. SI Article concludes:

    "Moments after the settlement was announced, a slightly surreal scene broke out: All parties, judge and jury included, took seats in the jury box to pose for a team photo of sorts taken by the bailiff. Wade and Rodberg sat next to each other; Wade's attorney Michael Kreitzer was on the Heat star's left, smiling broadly."

    First, who has a copy of this picture? (Post please!) Second, who knows when this has happened before in history?

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  8. Bubbe called SFL-- she got a hookah pipe with a triple hose- you, blondie with corn rows and your latina. Got anything to swap?

    Bubbe has a message-- adding chilled rose ryrup mixed with water in the hookah will give it a cooler and more pleasant smelling smoke.

    Bubbe was a wild woman in her younger days.

    Bubbes' Grandson

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  9. Why does SFL get TWO women? One is not sufficent?

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  10. Two girls for every boy = Good vibrations

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  11. SFL = one lucky s.o.b.

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  12. It cracks me up when companies wait until they're walking to the courtroom to strike a settlement. LOL. Talk about calling a bluff. Blahahaha. I can't imagine being a rich celebrity. I'm sure they are approached all the time for investments, etc.

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  13. This is the Court of Chancery, which has its decaying houses and its blighted lands in every shire, which has its worn-out lunatic in every madhouse and its dead in every churchyard, which has its ruined suitor with his slipshod heels and threadbare dress borrowing and begging through the round of every man's acquaintance, which gives to monied might the means abundantly of wearying out the right, which so exhausts finances, patience, courage, hope, so overthrows the brain and breaks the heart, that there is not an honourable man among its practitioners who would not give—who does not often give—the warning, "Suffer any wrong that can be done you rather than come here!"

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