Paul Porvaznik – Business Litigator
Case Notes and Summaries of Recent Cases (State and Federal Courts – Illinois Focus)
Yikes! That was a bad one. But there’s your James Marshall Hendrix reference for the day. Shareholder oppression is another easy-to-say, hard-to-apply legal standard that can trigger the break-up of a closely held corporation. Broadly, it applies where a dominant shareholder squeezes out or excludes a minority shareholder from having a say in the corporation’s …
Continue reading “Shareholder Oppression: A Frustrated Mess?”
The Court also affirmed summary judgment on the plaintiff’s fraud claims against its former corporate President defendant in Star Forge, Inc. v. F.C. Mason Co., 2014 IL App (2d) 130527-U. Plaintiff’s two-fold fraud claims were premised on (1) defendant misrepresenting to plaintiff the requirements of a big money contract involving John Deere so that a competitor of plaintiff’s …
A corporate officer’s fiduciary duties to his corporate employer and the monetary damages that flow from a breach of those duties are two of the key issues dissected and applied by the Second District appeals court in Star Forge, Inc. v. Ward, 2014 IL App (2d) 130527-U. Plaintiff was a steel company that sued its former President …