A local business owner was dismissed last week from a federal court lawsuit in Arkansas brought by investors of the failed PortHaven development in Eastpoint.
PortHaven was planned as a 31 acre mixed-use development with a commercial district at its center and public access to the Apalachicola Bay.
14 private investors and investment groups in the development filed a federal lawsuit in June of 2008 in the Arkansas Western District Court in Fayetteville, seeking a return of their 2.7 million dollar investment as well as punitive damages.
Investors had accused the developers of securities fraud for deceiving them from the beginning of the project and then providing bogus project updates that lured the plaintiffs into investing even more money.
The suit named 21 defendants including Eastpoint resident Bruce Millender who, through a company called Heritage Coast Properties, sold the Eastpoint properties to the Growth Group which had the PortHaven development.
Mister Millender was dismissed from the case on July 29th during the third day of a jury trial in Fayetteville, Arkansas.
There was no finding of wrongdoing against Mister Millender and he did not settle for any terms.
His attorneys, Nick Yonclas and Ethan Way called the dismissal a complete vindication for Bruce Millender.
The trial for the remainder of the defendants is still ongoing and is expected to go to the jury for verdict later this week.
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