Mississippi High Court Clarifies Best Practice for Lost Profits Calculation
In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.
Hornberger v. Dave Gutelius Excavating, Inc.
Valuation of shares of terminated stockholder based on shareholder agreement that requires calculation of adjusted net book value and specified adjustments may include discounts, where discounts are consistent with industry practice, appellate court says.
Industry Practice Supports Discounts in Stock Redemption Valuation
Valuation of shares of terminated stockholder based on shareholder agreement that requires calculation of adjusted net book value and specified adjustments may include discounts, where discounts are consistent with industry practice, appellate court says.
McNee v. McNee
Trial court did not err in classifying owner-spouse’s personal loan to his business during marriage as a marital asset, appeals court finds; loan could be seen as an increase in value of owner’s business or a debt owed to parties, appeals court says.
Different Theories Justify Classifying Loan to Business as Marital Asset
Trial court did not err in classifying owner-spouse’s personal loan to his business during marriage as a marital asset, appeals court finds; loan could be seen as an increase in value of owner’s business or a debt owed to parties, appeals court says.
Lane v. Lampkin (III)
In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.
Mississippi High Court Clarifies Best Practice for Lost Profits Calculation
In usurped-corporate-opportunity case, high court upholds trial court’s lost profits calculation based on actual numbers of company benefitting from wrongdoing, although best way is to project future profits or consider past profits of damaged business.
High Court Finds Trial Court’s Damages Assessment Unsound
State high court strikes down trial court’s damages assessment because it included values from a business valuation when the applicable law required an analysis of the entire loss suffered by a corporation owing to a partner’s breach of fiduciary duty.
Lane v. Lampkin (II)
State high court strikes down trial court’s damages assessment because it included values from a business valuation when the applicable law required an analysis of the entire loss suffered by a corporation owing to a partner’s breach of fiduciary duty.
What Rationale for Net Book Value in Damages Analysis?
Appeals court finds trial court did not err when it incorporated net book value calculation in its lost profits analysis in a case claiming breach of fiduciary duty and usurpation of business opportunity; dissent says damages calculation is “illogical.”
Lane v. Lampkin (I)
Appeals court finds trial court did not err when it incorporated net book value calculation in its lost profits analysis in a case claiming breach of fiduciary duty and usurpation of business opportunity; dissent says damages calculation is “illogical.”