With Company on the line, Judge rules for Barclay Damon client.
Barclay Damon successfully defended the founder and majority shareholder of an Upstate New York-based technology company in a complex commercial trial. At stake was the control of the company. A third-party claimed that he had entered into an oral agreement with the company which entitled him to a 5% ownership interest. If awarded, the founder would be rendered a minority shareholder. H&B successfully proved at trial that the “purported deal” was unauthorized and not ratified. The decision by the trial court keeps the control of the company with its founder.
For More Information on Barclay Damon's Commercial Litigation Practice Area: