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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.”

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.

More Credible Corporate Valuation Includes Nonoperating Assets

Fair market value of corporation must include nonoperating assets.

Callos Professional Employment, LLC v. Greco

Fair market value of corporation must include non-operating assets.

Linda J. Maloney v. Joseph D. Maloney

The Ohio Court of Appeals, Second District reversed the characterization and valuation of an interest in an insurance agency. It noted that to the extent a loan used to acquire a pre-marital interest in a business was retired using marital funds, the busi ...

Characterization and Valuation of Partnership Interest in Insurance Agency Considered

The Ohio Court of Appeals, 2nd District, reversed the characterization and valuation of an interest in an insurance agency.

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 ...

Rita Green v. Robert A. Shall

The Ohio Court of Appeals, 6th District affirmed the lower court’s use of the date of filing as the valuation date for the wife’s closely held business, rather than the date of divorce. In reaching this decision, it noted that the parties had not attemp ...

Nonfinancial Factors Considered in Selection of Valuation Date

The Ohio Court of Appeals, 6th District affirmed the lower court’s use of the date of filing as the valuation date for the wife’s closely held business, rather than the date of divorce. In reaching this decision, it noted that the parties had not attemp ...

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.

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