A #Venezuelan govt controlled bank in #Miami was embattled in a #shareholder court case with #political implications that challenged directors of the #banking empire connected to the #Maduro regime. A #jury found on June 27 that two directors breached their fiduciary duty of care to the bank and hit them with a fine, but a fraction of the $27 million sought by #litigants. “The jury only awarded damages amounting to less than 3% of what the plaintiffs were seeking—$800,000, instead of the $27 million requested at trial. That’s essentially a slap on the wrist from the jury,” said defense #counsel Evan Stroman, a partner at #DiazReus.

“Any day where you help prevent an illegal authoritarian regime in #Venezuela from penetrating the United States banking system and hold those accountable for assisting that regime is a good day,” Derek E. León, the #plaintiffs' attorney, said.

https://www.law.com/dailybusinessreview/2024/08/09/a-good-day-florida-bank-linked-to-venezuela-is-hit-with-800000-verdict/