A Texas State Lottery winner has been named in a breach of contract lawsuit accusing him of wrongfully backing out of a prize assignment agreement.
According to Harris County District Court documents, Daisy Circle LLC filed the breach of contract lawsuits against Richard Shelton on May 6. The lawsuit claims Shelton won $4 million from a Texas State Lottery drawing on July 2002. Shelton was to receive $160,000 every year for 25 years. On January 7, 2011, Daisy Circle entered into a Lottery Prize Assignment contract with Shelton, agreeing to advance him two annual lottery installments in exchange for $75,000, the brief states.
Daisy Circle contends that Shelton breached this contract, as he failed to cancel their agreement within three business days. Daisy Circle is seeking actual damages, attorney’s fees, and court costs.
If you are involved in a contractual dispute, please contact the Orange County Business Litigation Attorneys of Daily Aljian by calling 949-861-2524.