Author Awarded $51 Million From Money Manager

She claims the firm cost her $15 million for missing a deadline

   

Author Awarded $51 Million From Money Manager

Patriciacornwell 240x300 Author Awarded $51 Million From Money ManagerPopular mystery writer Patricia Cornwell is celebrating a huge win over the financial management firm she fired in 2009.

The noted author sued Anchin, Block & Anchin, accusing the company of mishandling her finances, adopting a aggressive wealth management strategy without obtaining her consent and failing to account for income. Cornwell claimed that the firm’s behavior cost her millions of dollars in financial losses, the Associated Press notes.

money stacks hundreds 630 200x200 Author Awarded $51 Million From Money Manager
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Anchin, Block & Anchin contended that Cornwell’s losses were due to the economic downturn and her own exorbitant spending. However, a jury agreed with the author, awarding her $51 million in damages.

Cornwell also claimed that she lost $15 million in advances and commissions on a novel after she missed the deadline to submit the manuscript to her publishers because the firm did not locate an alternate writing space during her home’s renovation.

The author, whose novels feature the fictional medical examiner Kay Scarpetta, called the verdict a “huge relief.”


Article printed from InvestorPlace Media, http://investorplace.com/2013/02/author-awarded-51-million-from-money-manager/.

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