BVLaw Case Update

BVWireIssue #184-2
January 17, 2018

Here’s a sampling of noteworthy recent case discussions available to BVLaw subscribers:

In re Finisar Corp. Secs. Litig., 2017 U.S. Dist. LEXIS 201150 (Dec. 5, 2017)

Court denies class certification in securities fraud case, finding defense financial expert convincingly rebuts the presumption of reliance with an event study that shows the defendant’s alleged misrepresentation had no significant impact on the company’s stock price.

Baker v. Seaworld Entm’t, Inc., 2017 U.S. Dist. LEXIS 196235 (Nov. 29, 2017)

Court grants class certification in securities fraud case, finding the defense expert’s event study to show absence of price impact is flawed and fails to rebut presumption of reliance; plaintiff meets predominance requirement, and its expert offers valid classwide damages model.

Springer v. Library Store, 2017 Ill. App. Unpub. LEXIS 2378 (Nov. 17, 2017)

Court upholds lower court ruling that there was no mismanagement of corporate assets; plaintiff failed to show excessive officer compensation and was properly precluded from using testifying expert to introduce another appraiser’s report on excessive rent.

Lane v. Lampkin, 2017 Miss. LEXIS 283 (July 20, 2017) (Lampkin III)

In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, even though the best way is to project future profits or consider past profits of damaged business.

Mifflinburg Telegraph, Inc. v. Criswell, Inc., 2017 U.S. Dist. LEXIS 145105 (Sept. 7, 2017)

In business tort case, court says damages to compensate plaintiff for loss of goodwill should take form of lost profits, not total loss of value damages, where defendant employees were not subject to noncompetes and plaintiff was not completely destroyed.

Please let us know if you have any comments about this article or enhancements you would like to see.