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SOUTHEAST TEXAS RECORD

Saturday, April 20, 2024

Suit: Austin-based company failed to repay more than $9 million in capital improvement loans

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HOUSTON — A Florida couple allege the Austin-based pharmaceutical company they advanced more than $9 million for capital improvements refuses to repay the funds. 

Cheryl Runsdorf and Adam Runsdorf filed a complaint May 23 in Harris County District Court against Woodfield Pharmaceutical LLC alleging breach of contract. 

According to their complaint, the plaintiffs claim that between 2018 and 2022, they paid for "certain capital improvements" to the defendant's property and paid their expenses. 

They further claim that they advanced the defendants over $9 million to cover capital improvements, internet services, taxes and tax preparation services and for legal services. The plaintiffs allege the defendants have failed and refuse to repay the funds in breach of their contract. 

The plaintiffs seek monetary relief of more than $1 million, interest and all other just relief. They are represented by Jeffrey Tillotson and Jonathan Patton of Tillotson Johnson & Patton in Dallas. 

Harris County District Court case number 2023-32069

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