Carter Arnett, in collaboration with O’Melveny & Myers, successfully defended Townsend Holdings through the conclusion of complex litigation involving the Dallas Police & Fire Pension System, culminating in a decisive victory affirmed by the Fifth District Court of Appeals.
The case involved claims that Townsend Holdings failed to disclose investment risks to the pension fund, which sought $1.2 billion in damages. Following a jury trial in Texas state court, the jury rejected all claims against Townsend Holdings. The Fifth District Court of Appeals affirmed that verdict, and on April 25, 2025, the pension fund voluntarily dismissed its petition to the Texas Supreme Court, bringing the matter to a final close.
This litigation, which commenced in 2017, represents a significant achievement for the defense team. The outcome underscores the importance of meticulous trial preparation and strategic appellate advocacy in high-exposure financial disputes.
E. Leon Carter led the Carter Arnett team representing Townsend Holdings throughout this multi-year litigation.
