Damage Award Overturned on Speculative Calculation of Lost Profit

Business Valuation Update BVLaw
Legal and Court Case Update
October 15, 1996

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3999 Manufacturing Industries, NEC
339999 All Other Miscellaneous Manufacturing
fraud
SK Handtool Corp. v. Dresser Industries
672 N.E.2d 341 (Ill.App. 1 Dist. 1996)
US
State Court
Illinois
Court of Appeals
John Borsch, CFA <br> James Moran, CPA <br>
Campbell

Summary

A divided Illinois Court of Appeals reversed and remanded a jury's award of lost profits based on misrepresentation made in connection with the sale of a hand tool business to a turnaround management firm.

See Also

SK Handtool Corp. v. Dresser Industries

Full Text of Court Cases
October 15, 1996

A divided Illinois Court of Appeals reversed and remanded a jury's award of lost profits based on misrepresentation made in connection with the sale of a hand tool business to a turnaround management firm. SK Handtool had a CPA and a business valuator cal ...