PHILADELPHIA — A company owner is suing Liberty Bankers Life Insurance Company, its CEO Bradford Phillips, and Continental Life Insurance Company, citing alleged breach of contract.
Walter H. Lenhard III filed a complaint on May 16 in the U.S. District Court for the Eastern District of Pennsylvania against the defendants, alleging that they breached the terms and conditions of a consulting agreement.
According to the complaint, the plaintiff alleges that he has suffered damages in an amount of at least $112,000 as of May, plus interest, and will continue to suffer damages. The plaintiff holds the defendants responsible because they allegedly failed and refused to pay their monthly obligation of $28,000 to him beginning in February, wrongfully attempted to force him to agree to post-closing renegotiations and falsely accused him of fraud.
The plaintiff requests a trial by jury and seeks judgment against the defendants in an amount exceeding $75,000 for all compensatory damages, plus interest, attorneys' fees and costs and any further relief that the court deems just and proper. He is represented by Jay M. Levin and Miranda Jannuzzi of Reed Smith LLP in Philadelphia.
U.S. District Court for the Eastern District of Pennsylvania Case number 2:16-cv-02385