Cascio v. Cascio Investments, LLC
Annotate this CaseCascio Investments, LLC (Investments), sued Philip Cascio (Cascio) for breach of contract, alleging violations of a noncompetition agreement (NCA). The circuit court found in favor of Investments, and Cascio appealed. Investments cross-appealed, seeking review of a punitive damages award and injunctive relief. The patriarch of the family, Phil Cascio, Sr., founded Cascio’s Storage and Warehouse, Inc. (CSW), during the 1970s, a business that primarily engaged in warehousing and storage of agricultural products in the Mississippi Delta region and beyond. Phil Cascio, Sr. passed the general management of the business to his son, Cascio while his other children, Jackie Pearson, Phyllis Cascio, and Patrick Cascio, pursued other careers. Not until later did Phil Cascio, Sr., divide his interests among his children. This extremely dissatisfied Cascio, Jr., who believed he should receive full ownership of the family businesses on account of the years of work he had poured into them. This chain of events led to a degeneration of the familial bonds between the Cascio siblings, which ultimately resulted in the action on review by the Mississippi Supreme Court. After review, the Supreme Court concluded substantial evidence supported the trial court’s findings, so judgment was affirmed as to all issues except the joinder of Jackie and Phyllis as plaintiffs. As for the cross-appeal, the issue of the constitutionality of the punitive- damages cap was procedurally barred, and the circuit court was affirmed as to the denial of additional injunctive relief.
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