Lost Profits Based on Single Price Quote Too Speculative?

Business Valuation UpdateVol. 16 No. 3
Legal and Court Case Update
March 2010

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5013 Motor Vehicle Supplies and New Parts
423120 Motor Vehicle Supplies and New Parts Merchant Wholesalers
contract
Multimatic, Inc. v. Faurecia Interior Systems, USA, Inc.
2009 WL (C.A.6 (Mich.)) (Dec. 22, 2009) (Unpub.)
December 22, 2009
US
Federal Court
6th Circuit
United States Court of Appeals
Lawrence Simon, Michael Harzmark (plaintiff)
Sutton

Summary

Court upholds $10 million in lost profits damages against automaker supplier based on letter of intent, confidentiality agreement, and single price quote but confirms exclusion of $28 million in additional damages based on speculation.

See Also

Multimatic, Inc. v. Faurecia Interior Systems, USA, Inc.

Full Text of Court Cases
December 22, 2009

Court upholds $10 million in lost profits damages against automaker supplier based on letter of intent, confidentiality agreement, and single price quote but confirms exclusion of $28 million in additional damages based on speculation.

This article also appears in:
Business Valuation UpdateVol. 16 No. 3
The Comprehensive Guide to Economic Damages, Seventh Edition