$1.825 Million Judgement

Attorney Sally Edgerly of our firm obtained a Judgement of $1.825 Million dollars in a commercial litigation case in Suffolk Superior Court on March 2008.

Business Litigation Verdict: Defense Verdict for our client

Facts: 2 "partners" in a closely held corporation litigated over their interests 10 years after the corporation was started. Hamill Law represented the Defendant who was the President of the Corporation, which was a prominent and successful real estate development corporation. Both parties were 50% stockholders. The Plaintiff, a disgruntled shareholder filed 2 lawsuits in Norfolk superior Court in April of '06. The Plaintiff alleged that there was a coprorate 'deadlock' preventing the corporation from being run successfully. He asked for an accounting and that the Court dissolve the company. He also alleged that our client had improperly taken or converted company funds to his own use and made allegations that our client had written hundreds of checks out of the corporate checkbook for personal expenditures. He alleged that our client had taken (for years) an unauthorized and exhorbitant salary which he wanted our client to pay back.

After a Norflok Superior Court trial going into a second week and involving thousands of pages of documents and testimony from an expert accountant, the Court rendered its verdict. Our client (the defendant) was awarded a verdict on all counts by the Superior Court after a Trial. The Plaintiff had alleged counts for an accounting, for breach of fiduciary duty and for conversion, fraud, for repayment of 'excessive salary' and a prayer for a corporate dissolution.

Our client prevailed on all counts, the corporation was not dissolved and Plaintiff was awarded no damages. Our client was not required to pay back any money. Our client was not required to provide any further accounting, and our client was allowed to remain running the corporation as President at the same salary level that the Plaintiff had alleged was excessive.

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