Fiduciary Duty, Damages, Business Disputes

Court Upholds Gilks’ Trade Secrets in Fly Boatworks Dispute

ArentFox Schiff on 7/29/2025

This case is an important reminder that in trade secrets litigation, the specific business context is critically important and may be outcome determinative. Here, a closely held business was held to a much more lenient...more

Chancery Holds Defendant Breached Fiduciary Duties by Failing to Distribute Assets Equally During Dissolution of LLC

Morris James LLP on 4/2/2025

Mehra v. Teller, C.A. No. 2019-0812-KSJM (Del. Ch. Sept. 20, 2024) - In this post-trial decision, the plaintiffs claimed that one of the defendants breached his fiduciary duties by failing to distribute assets equally at...more

Corporate Dissolution Petition Hits Back Burner in Favor of Earlier Filed Claims for Money Damages

Farrell Fritz, P.C. on 10/14/2024

The shareholder oppression claim under BCL 1104-a has a unique relationship with claims for money damages. A minority shareholder petitioning for dissolution under BCL 1104-a must establish that the majority shareholders...more

Bad Things Can Happen When You Steal a Business from a Minority Co-Owner

Farrell Fritz, P.C. on 10/30/2023

Occasionally, we come across court cases in which the majority owners so egregiously mistreated their minority co-owners that it’s difficult not to write about it — if only as a lesson in what not to do to separate oneself as...more

Court Rejects Oppressed Shareholder’s Bid for Dissolution or Buy-Out, Finds Money Damages Sufficient

Farrell Fritz, P.C. on 10/6/2020

A minority shareholder petitioning for dissolution under BCL § 1104-a must establish, by a preponderance of the evidence, that the majority shareholders have engaged in “illegal, fraudulent or oppressive actions,” (BCL §...more

The Brothers Cortazar Wage War Once Again

Farrell Fritz, P.C. on 7/8/2019

Two years ago, we wrote about a bitter rivalry between two brothers, James and Vincent Cortazar, over their ownership and management of a single-asset real estate enterprise, 47th Road LLC, which owned an apartment building...more