The Fifth District Court of Appeals has affirmed the jury verdict in favor of Townsend Holdings, bringing a close to high-stakes litigation involving the Dallas Police & Fire Pension System. The case centered on allegations that Townsend failed to disclose investment risks, which the pension fund claimed led to $1.2 billion in damages. A Texas state court jury rejected those claims, and the appellate court’s decision leaves that verdict intazct.
The long-running legal battle, which began in 2017, officially ended on April 25, 2025, when the pension fund voluntarily withdrew its petition to the Texas Supreme Court.
O’Melveny & Myers and Carter Arnett led the defense team for Townsend Holdings. The outcome as a significant victory, marking the end of a complex, years-long dispute. The litigation was a test of perseverance and teamwork, and justice was ultimately served.
The Carter Arnett team representing Townsend Holdings included E. Leon Carter.
