Health Care Property Investors, Inc. (HCP)

[ScovilleUnits]

Ventas Prevails in Litigation against HCP, Inc.

Friday , September 04, 2009 11:32ET

CHICAGO, Sep 04, 2009 (BUSINESS WIRE) -- Ventas, Inc. (NYSE: VTR) ("Ventas" or the "Company") today announced that the jury has ruled in Ventas's favor in the Company's lawsuit against HCP, Inc. ("HCP") for tortious interference with business expectation arising out of the Company's acquisition of Sunrise Senior Living REIT ("Sunrise REIT") in April 2007. In connection with the ruling, the jury awarded the Company over $101 million in damages. The case was tried in United States District Court for the Western District of Kentucky.

"We are pleased that the jury recognized HCP's significantly wrongful actions in improperly interfering with Ventas's acquisition of Sunrise REIT," said Ventas Chairman, President and Chief Executive Officer Debra A. Cafaro. "The damages awarded by the jury, at least in part, will help compensate Ventas for the injury caused by HCP. We thank the jury members for their time and making the right decision."

http://www.knobias.com/story.htm?eid=3.1.02a494e365eed712baaef787e34b2e555b0730c934780e56290a8c2bfc554657

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HCP Announces Jury Verdict in Ventas Litigation

Friday , September 04, 2009 12:44ET

LONG BEACH, Calif., Sep 04, 2009 (BUSINESS WIRE) -- HCP (NYSE:HCP) announced that a jury reached a verdict in favor of Ventas, Inc., in an action brought against HCP in the United States District Court for the Western District of Kentucky for tortious interference with prospective business advantage in connection with Ventas's 2007 acquisition of Sunrise Senior Living REIT. The jury awarded Ventas approximately $101 million in compensatory damages. During the trial, the court dismissed Ventas's claims for punitive damages. Ventas originally sought approximately $300 million in compensatory damages as well as punitive damages. HCP will appeal the adverse jury verdict.

http://www.knobias.com/story.htm?eid=3.1.8f9f8fb1051a845bbef694570b8c888be50dacb4a21405ace788dd31525fc585