State Street Bank v. CMS

Texas Southern University’s (“TSU”) failed to pay for equipment that firm client CMS Viron Corporation (“Viron”) installed on the TSU campus. State Street Bank financed the project through a lease purchase agreement. State Street Bank sued Viron seeking damages of approximately $8 million. The jury returned a verdict in favor of firm client Viron on all of State Street Bank’s claims. The jury also found in favor of Viron on its affirmative claims against TSU for breach of contract and warranty, and against escrow agent Academic Services and its sister company Academic Capital, awarding damages.