When One Business ‘Steals’ Another, its Net Profits Can Provide Basis for Damages

Business Valuation UpdateVol. 15 No. 9
Legal and Court Case Update
September 2009

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6099 Functions Related to Deposit Banking, NEC
522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities
economic damages & lost profits
economic damages & lost profits
Electronic Funds Solution, LLC v. Murphy
2009 WL 1717383 (Cal. App. 4 Dist.)
June 19, 2009
US
State Court
California
Court of Appeals
Edward P Lazarus, Einar Wm Johnson, John R Flocken, L Rachel Helyar, Paul A Hoffman, Paul E Greenwald, Rex S Heinke
Aronson

Summary

Because the defendants’ “stole” the plaintiff’s start-up company, the Court upholds a $10 million lost profits damages based on using the defendants’ profits and financial data as a surrogate.

See Also

Electronic Funds Solution, LLC v. Murphy

Full Text of Court Cases
June 19, 2009

Because the defendants’ “stole” the plaintiff’s start-up company, the Court upholds a $10 million lost profits damages based on using the defendants’ profits and financial data as a surrogate.