A federal court has entered a $79.5 million judgment against Atlanta-based Ameris Bank in a whistleblower retaliation, wrongful termination and unpaid wages case brought by Balboa Capital founder Patrick Byrne.
The judgment follows unanimous jury verdicts returned June 11 and 12 after a two-week trial in the U.S. District Court for the Central District of California.
The jury found Ameris liable for wrongful termination in violation of public policy, whistleblower retaliation, failure to pay wages due at termination and breach of contract involving Balboa’s Long-Term Cash Incentive Plan.
The award includes about $16.6 million in compensatory damages and statutory penalties, including approximately $9 million in unpaid incentive wages and bonuses. The jury also awarded nearly $62.9 million in punitive damages after finding that Ameris acted with malice, oppression or fraud.
The final judgment also provides for prejudgment and post-judgment interest, costs and potential attorneys’ fees. Ameris has said it intends to appeal.
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