15 results for 'cat:"Damages" AND cat:"Fiduciary Duty"'.
Vice Chancellor Laster finds that the buyer of an energy company that was found post-trial to have breached the sale process is liable for $199 million in sale process claims but not the more than approximately $83 million on the disclosure claim because damages are non-cumulative.
Court: Delaware Chancery Court, Judge: Laster, Filed On: May 15, 2024, Case #: 2018-0484-JTL, Categories: damages, fiduciary Duty
J. Quinn finds that the lower court improperly awarded certain damages in this dispute involving a well drilling business and two former employees. The court concludes that the $1.53 million award for lost profits was in error, as it was not sufficiently supported by the evidence. The finding of $1.1 million in damages to the parent corporation was supported by the evidence, however. Reversed in part.
Court: Texas Courts of Appeals, Judge: Quinn, Filed On: May 9, 2024, Case #: 07-23-00378-CV, Categories: Employment, damages, fiduciary Duty
[Consolidated] J. Stiglich finds the district court improperly awarded the estate more than $48 million in compensatory and punitive damages. The estate filed a negligence and malpractice suit after the family member died under care at the medical center during a sickle cell crisis. Though attorney fees were properly awarded, hospitals do not owe a fiduciary duty to their patients in connection with medical treatment. Because the breach of fiduciary duty claim fails, the award for punitive damages is reversed. Reversed in part.
Court: Nevada Supreme Court, Judge: Stiglich , Filed On: March 14, 2024, Case #: 79658, Categories: damages, fiduciary Duty, Medical Malpractice
[Consolidated.] J. Clark finds that the lower court properly declined to dismiss fiduciary duty claims brought by 10 car dealerships after their founder unilaterally froze them out of individual bank accounts. The founder failed to accept the role of a management group he established after the group removed his sole authority over the dealerships, which impeded not only their access to bank accounts but to manufacturer accounts and approvals. The dealerships were properly granted a preliminary injunction, but they may not have been assessed an appropriate undertaking. The issue should be remanded to set a sum that accounts for potential damage to the founder. Affirmed in part.
Court: New York Appellate Divisions, Judge: Clark, Filed On: February 22, 2024, Case #: CV-22-1961, Categories: damages, fiduciary Duty, Contract
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J. Fallon denies a request by a co-trustee of a charitable trust to strike the jury trial demand of a co-trustee the court removed for breach of fiduciary duties. The surviving co-trustee's suit against his expelled cohort seeks monetary damages for funds to which the beneficiary trusts are entitled. This is a legal remedy and, therefore, the expelled trustee is entitled to a trial by jury.
Court: USDC Eastern District of Louisiana , Judge: Fallon, Filed On: November 30, 2023, Case #: 2:17cv5368, NOS: Other Contract - Contract, Categories: Trusts, damages, fiduciary Duty
Vice Chancellor Glasscock finds that a company controller breached fiduciary duties by driving through an unfair transaction as related to an indemnification claim that benefited shareholders. However, damages should not be awarded because the coerced settlement price of $10 million for the release of the claim was fair.
Court: Delaware Chancery Court, Judge: Glasscock, Filed On: October 3, 2023, Case #: 2017-0486-SG, Categories: damages, fiduciary Duty
J. Lioi grants the employee's motion for default judgment, ruling the employer's failure to respond to any of the allegations renders it liable for over $9,000 in damages to cover medical expenses incurred after the employer terminated health insurance coverage despite promises it would remain in effect.
Court: USDC Northern District of Ohio, Judge: Lioi, Filed On: September 1, 2023, Case #: 5:22cv2038, NOS: Employee Retirement Income Security Act (ERISA) - Labor, Categories: Erisa, damages, fiduciary Duty
J. Theofanis finds the trial court properly in part ruled in a breach of fiduciary duty case brought by the owners of a condominium against the condominium firm. The trial court issued a default judgment against the firm, awarding the owners of the condominium damages and portions of an insurance payout that they alleged was owed to them but withheld by the firm. The default judgment against the firm is supported by the evidence; however, the owners failed to carry their burden to prove that damages were warranted in the case. Therefore, the award of damages was improper. Affirmed in part.
Court: Texas Courts of Appeals, Judge: Theofanis, Filed On: August 17, 2023, Case #: 03-22-00491-CV, Categories: Insurance, damages, fiduciary Duty
J. Harris finds that the trial court properly held that a trustee breached his fiduciary duties in his handling of trust assets and excluded his expert witnesses, but a $250,000 damages award was unsupported by findings. The trial court also erred when it held the estate liable for the trustee's actions since a claim for vicarious liability was not pleaded or tried. The trial court should have applied extrinsic evidence of interest rates to a loan from the trust instead of default rates and it must revisit the offset determinations used in awarding damages. Vacated.
Court: Utah Court Of Appeals, Judge: Harris, Filed On: August 3, 2023, Case #: 20200808-CA, Categories: Trusts, damages, fiduciary Duty
J. Theofanis finds that the trial court improperly ruled in part in a breach of fiduciary duty suit brought by the founder of a software firm against a purchaser in the company’s interest. The firm’s founder alleges the purchaser entered into contracts without his consent and improperly transferred the firm's assets. There was sufficient evidence that the founder is entitled to damages. Reversed in part.
Court: Texas Courts of Appeals, Judge: Theofanis, Filed On: July 27, 2023, Case #: 03-22-00034-CV, Categories: Corporations, damages, fiduciary Duty
J. White denies wholesaler and its officers' motion for a new trial on the shareholder's intentional-misrepresentation and breach of fiduciary duty claims against them, and conditionally denies the motions for a new trial on a breach of contract claim and a punitive damages claim. The award of punitive damages is excessive, and so is remitted to the nominal amount of one dollar. Breach of contract damages are also excessive, and are remitted to to the amount of $17,099 rather than the original amount of $886,951.
Court: USDC Northern District of California, Judge: White, Filed On: July 26, 2023, Case #: 4:19cv2534, NOS: Other Fraud - Torts - Personal Property, Categories: damages, fiduciary Duty, Contract