PINNACLE FITNESS AND RECREATION MANAGEMENT, LLC, a Delaware limited liability company, Plaintiff,
THE JERRY AND VICKIE MOYES FAMILY TRUST, an Arizona trust, Defendant. AND RELATED COUNTERCLAIMS.
ORDER DENYING IN PART AND GRANTING IN PART THE TRUST'S MOTION TO CORRECT AND AMEND THE AMENDED JUDGMENT
(ECF NO. 341)
GONZALO P. CURIEL, District Judge.
Before the Court is the Trust's Motion to Correct the Amended Judgment ("Motion"). (ECF No. 341.) Pinnacle has filed a response to the Motion, (ECF No. 342), and the Trust has filed a reply, (ECF No. 348). The Court finds the Motion suitable for disposition without oral agurment. See CivLR 7.1.d.1. For the reasons that follow, the Court hereby DENIES IN PART AND GRANTS IN PART the Trust's Motion.
After a ten-day trial, a jury returned verdicts in favor of Pinnacle on its claims for (1) Breach of Contract (Buy-Out), (2) Breach of Implied Covenant of Good Faith and Fair Dealing (Buy-Out), (3) Promissory Estoppel (Buy-Out), (4) Breach of Contract (Operating Agreement), (5) Breach of Implied Covenant of Good Faith and Fair Dealing (Operating Agreement), (6) Breach of Fiduciary Duty, (7) Fraud (by Intentional Misrepresentation and by Concealment), (8) Constructive Fraud, and (9) Civil Conspiracy to Defraud.
The jury awarded Pinnacle $1, 632, 495.72 in compensatory damages on its first, second, and/or third claims ("Buy-Out Claims"). The jury awarded Pinnacle zero damages on its fourth and/or fifth claims and $905, 242.00 in compensatory damages on its sixth, seventh, eighth, and/or ninth claims ("Non-Buy-Out Claims"). The jury further awarded Pinnacle $1, 100, 000 in punitive damages based on a finding that the Trust acted with an "evil mind."
After considering the parties' proposed judgments, the Court entered judgment on March 21, 2013 ("Initial Judgment"). (ECF No. 312.) Thereafter, Pinnacle filed a motion to correct the Initial Judgment, (ECF No. 313), which this Court granted in part and denied in part, (ECF No. 339). The Court issued its Amended Judgment on May 15, 2013. (ECF No. 340.)
The Trust now moves to correct and amend the Amended Judgment in two respects. First, the Trust contends the Amended Judgment should be corrected to reflect the fact that the Buy-Out Agreement found to exist by the jury "does not contain a precise interest rate that can be applied" to the installment payments owing under the Buy-Out Agreement. Second, the Trust contends the accrual dates for prejudgment interest on the installment payments are incorrect. The Trust thus asserts Pinnacle should not be allowed to execute or enforce the Amended Judgment until it is corrected.
I. Legal Standards
Pursuant to Federal Rules of Civil Procedure, Rule 60(a) provides, "The court may correct a clerical mistake or a mistake arising from oversight or omission whenever one is found in a judgment, order, or other part of the record. The court may do so on motion or on its own, with or without notice."
"A motion to alter or amend a judgment must be filed no later than 28 days after the entry of the judgment." Fed.R.Civ.P. 59(e).
"On appropriate terms for the opposing party's security, the court may stay execution of a judgment-or any proceedings to enforce it-pending disposition of, " among other ...