Theory of Damages for Closely Held Company’s Officers’ Breach of Fiduciary Duty of Disclosure in Connection With Redemption of Corporate Stock Explored

Business Valuation Update BVLaw
Legal and Court Case Update
April 29, 2003

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2656 Sanitary Food Containers, Except Folding
322219 Other Paperboard Container Manufacturing
breach of fiduciary duty
breach of fiduciary duty, minority shareholder, minority oppression
Judith A. Lawton et al. v. Robert Nyman et al.
327 F.3d 30, 2003 U.S. App. LEXIS 8069
US
Federal Court
1st Circuit
United States Court of Appeals
William Piccerelli (for directors and officers) <br> Steven Carlson (for minority shareholders)
Lynch

Summary

The U.S. Court of Appeals considered the fiduciary duties between majority and minority shareholders in a closely held company and damages flowing from that breach.

See Also

Judith A. Lawton et al. v. Robert Nyman et al.

Full Text of Court Cases
April 29, 2003

Following trial, the district court found officers and directors with voting control of a closely held family corporation, Nyman Manufacturing Co., to be in breach.

This article also appears in:
The Comprehensive Guide to Economic Damages, Seventh Edition