When Year-in-Interest Sales Data Have Been Destroyed, Damages May Be Calculated Based on Sales Data Closest in Time to the Year-in-Interest
The Michigan Court of Appeals affirmed a jury’s award of lost commissions in this breach of contract action.
Distinction Between 50% and Minority Shareholder Immaterial
This is an appeal from the United States District Court for the Southern District of Texas, in which appellant Dan Hill sought to overrule the District Court's ruling that he should buy out appellee James Hollis' 50% interest in First Financial USA Inc. (FFUSA).
Hollis v. Hill
At issue is breach of fiduciary duty by the defendant for ordering a buy-out of the plaintiff's shares based on their corporation's value more than one year prior to the date of judgment.
Distinction Between 'Equal' and 'Minority' Immaterial
This is an appeal from the United States District Court for the Southern District of Texas, in which appellant Dan Hill sought to overrule the District Court's ruling that he should buy out appellee James Hollis' 50% interest in First Financial USA Inc. (FFUSA).
Valuation Date Is the Date of Filing
The 5th Circuit determined that, under Nevada corporate law, shareholders in a closely held company financial services company have a fiduciary duty to each other.