14 Jan Partners James R. Lance and Genevieve M. Sauter Obtain Nearly $13 Million Judgment in Employment Case
Noonan Lance Boyer & Banach LLP (NoonanLance or NLBB) recently won $12,933,400 for an employee claiming an unpaid bonus against a San Diego-based real estate investment company. The lawsuit filed in San Diego Superior Court in 2021 alleged that the employer had agreed to pay a specific percentage of the company’s net profits to its employee as an annual bonus but refused to pay the amount owed when the company sold most of its real estate portfolio in 2021 for $4 billion. The Defendant filed a motion to compel the case to binding arbitration.
NoonanLance Partner James R. Lance was lead trial counsel and Partner Genevieve M. Sauter was second chair during a four-day binding arbitration hearing before the Honorable Lorna A. Alksne (Ret.). David J. Noonan provided strategic input during the case.
When the employer sold more than 90% of its real estate assets in 2021, which resulted in net profits of more than $600 million to the company, it refused to pay NLBB’s client the full bonus he was owed. The employer asserted that the bonus always was fully discretionary and that the sale of 90% of its portfolio was an “extraordinary event” so it had no obligation to pay any bonus whatsoever. However, after the lawsuit was filed, the defendant decided to pay NLBB’s client an “ordinary” bonus of $1,761,000.
Judge Alksne rejected the employer’s arguments and agreed with NoonanLance that the employee was entitled to an additional bonus of $7,492,905, Labor Code penalties of $1,874,076, plus prejudgment interest and attorneys’ fees. The defendants filed a motion to vacate the award in San Diego Superior Court. Judge Katherine A. Bacal denied the motion to vacate, confirmed the arbitration award and entered a final judgment of $12,933,400 on December 3, 2024.
The client had this to say about NoonanLance:
“I am extremely grateful for the job done by Jim and Genevieve. Jim consistently offered practical advice which helped secure the best outcome, and his performance during the arbitration hearing was superb. Jim always was professional, and he instilled trustworthiness with his commanding and congenial style. Genevieve was relentless in dismantling the company’s arguments in the numerous motions filed before and during the arbitration hearing, relying on sharp logic and thoroughly researched case law to stay ahead of every twist. I am fortunate to have had Genevieve and Jim in my corner. I highly recommend NoonanLance for anyone in a similar situation.”
For more information about NoonanLance, visit www.noonanlance.com or call 619-780-0880.
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