PALMYRA — The County of Fluvanna released the following update of the Fluvanna v. Davenport case on April 19.
On Dec. 19 the supervisors approved entering mediation talks with Davenport, as Fluco Blog previously reported.
The following is the County of Fluvanna’s statement:
On April 18, 2013, the Supreme Court of Virginia unanimously reinstated the multi-million dollar lawsuit filed by the Board of Supervisors of Fluvanna County against Davenport & Co. LLC.
The lawsuit seeks compensatory and punitive damages against the defendant based on allegations of fraud, breach of fiduciary duty, breach of contract, gross negligence and breach of the Virginia Securities Act. The lawsuit also seeks reimbursement of all fees paid by the county to the defendant.