Maryland Court of Appeals Reverses Circuit Court Dismissal of an Oppression Claim — Finds There Could Be Disguised Dividend Issue
Mekhaya v. Eastland Food Corp. The circuit court erred in dismissing the claims of the appellant (Mekhaya) for shareholder oppression, breach of fiduciary duty, and unjust enrichment against his former employer, Eastland Food Corp., and its board of directors....
U.S. District Court in California Grants in Part and Denies in Part Motions of Dismissal by Company Against Blockchain Researcher
Zamfir v CasperLabs, LLC The defendant, Casper Labs LLC, in this trademark dispute in U.S. District Court (California) moved for dismissal of eight causes of action from plaintiff Vlad Zamfir’s second amended complaint. The actions dealt primarily with trademark...
Illinois Appeals Court Affirms Trial Court’s Acceptance of Real Estate Value in Absence of Wife’s Submission of a Competing Value
In re Trapp, 2022 IL App The primary issue, for valuation purposes, of this Illinois appeal of a divorce decree was the appeal court’s affirmation of the trial court’s decision to accept the valuation of the husband’s business valuation expert, Neil Gerber, as to the...
U.S. Appellate Court Rules Sufficient Evidence to Support Future Damages
WL All. LLC v. Precision Testing Grp. Inc. This is a partnership dispute between the plaintiff, WL Alliance, and the defendants, Precision Testing Group Inc. and Glenn Stuckey. After a trial, the defendants were found liable for $3.3 million in damages. The defendants...
Mississippi Appeals Court En Banc Remands for Valuation of a Small Used-Car Business With Dissents From Several Judges
Brown v. Brown, 2022 In this Mississippi divorce case, the appellate court en banc reversed in part and remanded in part, asking the trial court to determine whether certain items were marital property and determine the values for certain marital properties so a...
Louisiana Appeals Court Affirms Trial Court That Husband’s Business Is Not a Professional Business and Has Value Other Than Personal Goodwill of Husband
Thomasee v. Thomasee The Louisiana appellate court affirmed the decision of the Trial Court in a divorce case that included the value of the husband’s business in the marital estate as community property. The husband argued that the FEMA adjuster business is a...
U.S. District Court Decides Some Issues for Government and Some for Defendants But Very Little in Damages in an ERISA ESOP Case
Walsh v. Preston, 2022 Background. On Dec. 30, 2014, the plaintiff, Walsh (Secretary of Labor), filed this action pursuant to ERISA against the defendants. The complaint alleged the following: (1) breach of fiduciary duties; (2) engaging in prohibited transactions;...
U.S. District Court Partially Excludes Witness in Securities Value Case and Allows Rebuttal Witness
In re Navidea Biopharmaceuticals Litig. A pharmaceuticals company, Navidea, sued its former CEO, Michael Goldberg, for, among other things, breach of contract and for a declaratory judgment establishing the contractual rights and obligations of the parties. These...
Taxpayer Is Denied Charitable Deduction for a Conservation Easement, and Gross Valuation Misstatement Penalties Are Applied
Brooks v. Comm’r The IRS (respondent) issued a notice of deficiency to Kenneth M. Brooks and Anita Wolke Brooks (petitioners) in which the respondent disallowed carryover charitable contribution deductions relating to the petitioners’ interest in the Kenneth Brooks...
Connecticut Court Determines Fair Value of 50% Interest in Commercial Real Estate Holding Company—Parties Could Not Agree on Value
Buccieri v. New Hope Realty, Inc. This case arose out of a dispute between the surviving family and a trustee of the founders of New Hope Realty Inc. The parties could not agree on the management and operations of New Hope Realty. On July 7, 2020, a dissolution...