Shareholder litigation
N/AOUTCOME: Obtained 8.62 million jury verdict in favor of company
Obtained 8.62 million jury verdict in favor of company in shareholder derivative suit. A defendant improperly transferred the client’s shares of the company to trusts under his control and attempted to ... freeze out the client. The court determined the transfer of shares was improper and ordered the shares be transferred back to the client giving the client full control of the company. The jury awarded the company 8.62 million dollars as a result of the defendant’s breach of fiduciary duty. Obtained dismissal of all claims against client including breach of fiduciary duty. Children of a family business sued their majority shareholder father and attempted to remove him from management. Successfully defended against attempts to obtain a restraining order which would have prevented the client from operating the business and ultimately plaintiffs dismissed all claims.
