$55.4 Million Verdict for 400+ Shareholders Deceived About Michigan Energy Asset

InnerPoint Energy Corp., based in Kirkwood, Missouri, raised roughly $43 million from more than 400 investors who believed they were backing an energy company with real upside. What they did not know was that key insiders had quietly positioned themselves to capture that upside for themselves.

The defendants included Glenn Foy, InnerPoint's CEO, and Dennis Moore, a board member whose grandmother was Alice Anheuser Beims Moore, a great-granddaughter of Eberhard Anheuser, who co-founded Anheuser-Busch. The Moore Family Trusts were also named. According to the plaintiffs, this group transferred InnerPoint patents, intellectual property, and corporate opportunities to entities they controlled, without independent valuation and without shareholder approval.

The timing was the center of the case. The defendants acquired a decommissioned Michigan coal plant in September, and by December Michigan had enacted a law requiring power companies to source a share of their electricity in state, which made old plants like it suddenly valuable. Shareholders never learned about that change. Instead, they received word that InnerPoint was insolvent and their investments were total losses. A few months after that news, Foy and the Moores turned up at a groundbreaking ceremony for a project at the same company shareholders had just been told was worthless.

Over roughly six years of litigation, the plaintiffs' attorneys uncovered thousands of documents showing the insiders had put their own financial interests ahead of the shareholders'. Simon Law attorneys Tony Simon and Jer Nixon, working alongside Lowther Johnson attorneys Lee Viorel, Colby Hall, and Mathew Placzek, presented the case over two weeks before St. Louis County Circuit Judge Brian May. Jurors deliberated roughly five hours on liability and damages before returning a verdict on November 14, 2025, then deliberated about one more hour on punitive damages.

The jury awarded $24.4 million in compensatory damages and approximately $31 million in punitive damages, split among the defendants: $75,000 against Foy, $2.5 million against Moore personally, and $28.4 million against the Moore Family Trustees. The total came to $55.4 million. The defendants denied wrongdoing, noted they had invested $10 million and loaned more than $8.3 million to the company, and announced plans to appeal.