Court Says Expulsion Price Determination in Louisiana Buyout Dispute Is Triable Issue
In buyout dispute resulting from expulsion of LLC member, court finds state law does not preclude use of discounts in valuing withdrawing LLC member’s interest; company’s operating agreement is ambiguous on how to value expelled member’s interest, court says, leaving issue for jury to decide.
Complete Logistical Services, LLC v. Rulh
In buyout dispute resulting from expulsion of LLC member, court finds state law does not preclude use of discounts in valuing withdrawing LLC member’s interest; company’s operating agreement is ambiguous on how to value expelled member’s interest, court says, leaving issue for jury to decide.
In ESOP Dispute, Court Orders Disclosure of Communications Involving Independent Financial Advisor
In ESOP discovery dispute, court orders disclosure of documents involving company’s independent financial advisor; there is no attorney-client privilege where parties’ engagement agreement expressly designated advisor as an “independent contractor with no fiduciary or agency to the Company.”
Acosta v. Wilmington Trust, N.A. (HCMC)
In ESOP discovery dispute, court orders disclosure of documents involving company’s independent financial advisor; there is no attorney-client privilege where parties’ engagement agreement expressly designated advisor as an “independent contractor with no fiduciary or agency to the Company.”
Business Debt Renders Expert’s Lack of BV Credentials Inconsequential
Appeals court says trial court’s decision to admit opinion of seasoned CPA expert who was not a credentialed business valuator was not error because valuation was a “non-issue” where evidence showed the indebted company was no longer a going concern.
Sternat v. Sternat
Appeals court says trial court’s decision to admit opinion of seasoned CPA expert who was not a credentialed business valuator was not error because valuation was a “non-issue” where evidence showed the indebted company was no longer a going concern.
Medical Staffing Network, Inc. v. Ridgeway
Court remands $1.1 million damages award for proper measure of lost profits due to misappropriation of trade secret from medical staffing company.
R.K. Enterprises, LLC, et al. v. Pro-Comp Management, Inc., et al.
The Arkansas Supreme Court reversed a lower court’s damage award in this misappropriation of trade secrets matter. The lower court’s award was based on the tort claim of conversion remedy. The Supreme Court concluded that the Trade Secrets Act provided th ...
The Measure of Damages Is Lost Profits in Misappropriation of Trade Secrets Case
The Arkansas Supreme Court reversed a lower court’s damage award in this misappropriation of trade secrets matter. The lower court’s award was based on the tort claim of conversion remedy. The Supreme Court concluded that the Trade Secrets Act provided th ...
Christians v. Universal Nurses of Houston, Inc.
Issue is whether leases were entered into at less than fair value.
Verdict Reversed Due to Insufficient Evidence of Lease Values
In this combined minority oppression, breach of fiduciary duty, and shareholder derivative action, 20% shareholder Linda Stafford claimed that majority shareholders Linda Christians and Doug Christians inappropriately entered into furniture and equipment leases with Universal Nurses of Houston Inc. at less than fair value.