A Boies Schiller Flexner team secured a trial win in the case Parker et al. v. Souki in the U.S. District Court for the District of Colorado.
The firm represents Christopher Parker and Red Mango Enterprises Ltd., who, beginning in 2017, invested in Tellurian, Inc., a liquified natural gas company founded by defendant Charif Souki. After the share price of Tellurian dropped sharply in the following years, Souki promised in a series of text messages to indemnify plaintiffs for any losses if they retained their shares, which plaintiffs did. Souki later reneged on this agreement, and plaintiffs filed suit bringing claims for breach of contract, fraudulent inducement, promissory estoppel, and unjust enrichment.
After a five-day trial, jurors unanimously found Tellurian founder Charif Souki breached the 2019 agreement he made with our clients and awarded $39 million in damages—the full amount of the indemnity.
Texas Lawyer: Jury Awards $39M in Text-Based Breach of Contract Case