Opinion
Civil Action 4:18-cv-829-SDJ-KPJ
09-01-2021
ONE PLACE CAPITAL, Plaintiff, v. MICHAEL OAKES, individually and doing business as NEOGRAFT RESOURCES, LLC, Defendant.
MEMORANDUM ADOPTING REPORT AND RECOMMENDATION OF UNITED STATES MAGISTRATE JUDGE
SEAN D. JORDAN UNITED STATES DISTRICT JUDGE.
Came on for consideration the report of the United States Magistrate Judge in this action, this matter having been heretofore referred to the Magistrate Judge pursuant to 28 U.S.C. § 636. On August 2, 2021, the Magistrate Judge entered proposed findings of fact and recommendations (Dkt. #50) that Plaintiff One Place Capital's (“Plaintiff”) Motion for Summary Judgment (the “Motion”) (Dkt. #33) be granted.
Having received the Report of the United States Magistrate Judge, and no timely objections being filed, the Court is of the opinion that the findings and conclusions of the Magistrate Judge are correct and adopts the Magistrate Judge's report as the findings and conclusions of the Court.
Accordingly, the Motion (Dkt. #33) is GRANTED and summary judgment is ENTERED in favor of Plaintiff on its conversion and Texas Theft Liability Act (“TTLA”) claims. Defendant Michael Oakes (“Oakes”) is ORDERED to pay Plaintiff in the amount of $96, 590.00 for Plaintiff's conversion and TTLA claims. Plaintiff's prayer for pre-judgment interest is GRANTED. IT IS ORDERED that Oakes is to pay Plaintiff pre-judgment interest at a rate of five percent (5%), accruing from November 21, 2018, until the day before entry of final judgment. IT IS FURTHER ORDERED that the prejudgment interest rate shall be computed as simple interest, not compound interest.
Plaintiff's prayer for post-judgment interest is GRANTED. IT IS ORDERED that Oakes is to pay Plaintiff post-judgment interest, to be calculated at the applicable federal rate under 28 U.S.C. § 1961.
Plaintiff's prayer for attorney fees and costs is GRANTED. IT IS ORDERED that Oakes shall pay Plaintiff in the amount of $17, 091.00 for attorney fees and $400.00 for costs.
So ORDERED and SIGNED.