On September 17, 2013 VLF with the assistance of mediator Judge Mark Davidson, reached a favorable settlement for three minority shareholder plaintiffs in a case alleging breach of fiduciary duty and shareholder oppression. The business involved was a closely held corporation which offered Taekwondo and Hapkido services to the community with a focus on school age children.
After completing written discovery and taking the Defendant and majority shareholder’s deposition, the evidence was overwhelming. The facts at hand, including payment of personal expenses and unrecorded personal loans, are similar to many of the cases that VLF routinely handles, though this case may be the only one where each of the four individual parties to the lawsuit were all black belts!