Robinson v. Langenbach
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The Supreme Court affirmed the judgment of the circuit court on a jury verdict for Plaintiff on her claim that, as directors of the closely held Perma-Jack Company, Defendants breached their fiduciary duty to Plaintiff as a shareholder, holding that the circuit court did not abuse its discretion.
Specifically, the Supreme Court held (1) with respect to Plaintiff's breach of fiduciary claim, because Plaintiff did not sue Perma-Jack itself for lost wages or reinstatement, Plaintiff's claim was not actually one for wrongful termination, as Defendants argued; (2) the circuit court did not err in finding that Defendants engaged in shareholder oppression and ordering Defendants to buy Plaintiff's Perma-Jack shares; and (3) the circuit court did not abuse its discretion in determining the fair value of Plaintiff's shares and in denying Plaintiff prejudgment interest and attorney's fees.
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