Ben Gordon Wins $1 million Settlement

by January 29, 2010

Gordon’s lawsuit — filed in 2007 — ended on victorious note for Ben yesterday: “A federal judge ordered Detroit Pistons guard Ben Gordon’s former financial advisors to pay him more than $1.3 million in a dispute over a loan but found there was no breach of their fiduciary duty. Judge Charles Kocoras handed down the decision Wednesday in a suit Gordon, a former Chicago Bull, filed against California-based Larry Harmon & Associates. Kocoras ordered Harmon to repay with interest and penalties a $1 million loan from Gordon in 2007 but threw out his claim that the loan and a change in how he paid them – from flat fee to 1 1/2 percent of earnings – represented a breach of the firm’s fiduciary duty to the NBA player. Kocoras also dismissed for lack of jurisdiction a claim by Harmon that Gordon had breached his contract by firing the consulting company. Gordon claimed in the suit filed in 2007 that he provided $1 million to Harmon as his share in a real estate investment.”