Happy New Year!
Our Commercial Litigation Team would like to say THANK YOU to the many accountants, financial advisors and other professionals for the confidence you show in our team by referring clients to us in the past year. Our commercial litigation team has worked diligently to develop unique capabilities in finance, accounting, and business valuation, and we enjoy leveraging those capabilities to secure unique outcomes for our clients (and yours). We wanted to share some of the uniquely good results we secured for clients in 2017:
- Big law says no, we said yes. We secured, pre-suit, an eight-figure confidential settlement against a publicly traded company after a large Chicago firm concluded that our client didn’t have a case.
- Preserving Shares. We secured a ruling in favor of our client that he was not forced to sell his valuable shares in the privately held family business, having established that the company failed to exercise its option to purchase in accordance with the buy-sell agreement, thus avoiding the forced redemption of his stock at a steep discount.
- Holding Partners Accountable. We secured summary disposition in favor of our client, the court agreeing that the defendants were partners in a foreign real estate development project, then collected fully. We additionally secured a $75,000 sanction award against one of the defendants and his (large) law firm for providing a false answer.
- Medical Practice Exit. Our financial work revealed that a doctor was being significantly short-changed on exiting a medical practice and we resolved the matter pre-suit by establishing, through the practice’s own accounting records, that revenue was misallocated, thus prompting a quick settlement.
- Shareholder Divorces. We resolved a number of cases involving the valuation of privately held business interests in the context of divorce, offering unique capabilities on behalf of non-owner spouses to uncover the true cash flow of the business to its owners.
- Due Diligence Malpractice. We resolved, pre-suit, a malpractice matter involving a professional due diligence advisor in connection with a $20+ million business sale, resolving the matter for limits.
- Prenuptial and Operating Agreements. To preserve and protect value in privately held companies, we negotiated a number of agreements on behalf of shareholders, including prenuptial agreements incident to a remarriage and amended and restated operating agreements and shareholder agreements.
- Navigating Liquidity Rights. We represent a number of shareholders concerning liquidity rights in privately held companies, navigating strategies associated with their exit from companies or helping companies exit shareholders.
Again, thank you for entrusting opportunities to our commercial litigation team. We look forward to tackling new legal challenges in the year ahead.More Legal Alerts