UNFAIR OR DECEPTIVE TRADE PRACTICES
In 1973, Connecticut enacted a law prohibiting business conduct that harmed or caused an ascertainable loss to consumers or other businesses as a result of conduct that was deceptive, unscrupulous or oppressive. Since 1973, the state and federal courts have developed an extensive body of law regarding what conduct does or does not violate the act. The Wallman Law Firm has been engaged in many such cases, both prosecuting them and defending them. Connecticut’s unfair trade practices act (CUTPA) can result in award of damages plus attorneys’ fees or punitive damages, or both.
Examples of cases for which the Wallman Law Firm has been engaged include misrepresentations concerning the number of units actually sold in a condominium project which ultimately filed for bankruptcy leaving 27 families stranded in a partially completed 156 unit development. We also handled cases involving misappropriation of trade secrets, both prosecuting and defending them; cases involving unfair methods of competition, such as agreements that divide the market geographically and agreements to charge the same prices; forcing independent contractors to pay additional compensation in exchange for distributing work to them and borrowing money based upon false promises or misleading financial statements. The Wallman Law Firm successfully defended a lawsuit brought by the general partner of an oil and gas venture to collect subscription promissory notes when the general partner also paid itself substantial fees for engaging in oil and gas explorations without being able to justify the value of its services to the partnership.
Legal remedies are available
Unfair trade practices are regulated by federal and state law. If the unfair trade practice can be proven, your remedies may include:
- Actual damages — monetary losses you can prove
- Statutory damages — minimum amounts provided by law regardless of proof of actual damages
- Treble damages — many states allow courts to triple the damage award to further discourage unfair trade
- Punitive damages — additional monetary award meant to punish the defendant for his dishonesty
- Attorney’s fees — Connecticut law allows for reimbursement
- Court injunction — to stop the unfair practice
The Wallman Firm is conveniently located in Stamford and serves clients throughout Connecticut, including the towns of Darien, Greenwich, Stanford and New Canaan.