Anne Johnson Named Litigator of Week in AmLaw Litigation Daily: ‘How This Haynes and Boone Lawyer Wiped Out a $98M Judgment Against BBVA Compass’

12/18/2020

The AmLaw Litigation Daily named Haynes and Boone, LLP Partner Anne Johnson “Litigator of the Week” for leading a Haynes and Boone appellate team that persuaded an appellate court to overturn a $110 million fraud verdict against BBVA Compass.

“Anne Johnson and her team persuaded a Texas appellate court to take the extraordinary step of tossing a jury verdict after the court found that the borrower plaintiff couldn’t establish the basic elements of his fraud claim,” the publication stated.

Johnson was assisted by a Haynes and Boone team that included Partners Kent Rutter and Nina Cortell; Associate Chris Knight; and Counsel Mike Hatchell.

Below is an excerpt:

With the end of 2020 in sight, I think we could all use a good reversal-of-fortune story as we gear up for next year.

Thankfully, Anne Johnson of Haynes and Boone dialed up just such a turnaround for her client BBVA Compass this week. The lender was hit with a $98 million judgment including $50.5 million in actual damages and $40 million in exemplary damages after a 2017 trial in a case brought by David Bagwell, a residential land developer in Texas.

Bagwell’s lawyers had convinced a state court jury to hold the bank liable for fraud after loan officer Sam Meade told Bagwell that the bank wasn’t seeking to sell his past-due loans. The jury found that Bagwell had justifiably relied on Meade’s representations before the bank sold his loans to a national homebuilder, which foreclosed on the property underlying them.

Johnson, who was brought in post-trial, this week convinced the Fifth District Court of Appeals in Dallas to toss the fraud verdict, wiping away the judgment that had grown to more than $110 million with interest.

To read AmLaw's Q&A with Johnson, click on the PDF linked below:

AmLaw-Johnson-Profile.PDF

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