Where discord among the three sole shareholders of a restaurant business resulted in a suit to dissolve the corporation and an action to buy plaintiff’s shares in lieu of dissolution, the court accepts the fair value determination of a defense ...

Tagged with: 25th Circuit Court Corporate Judge Paul A. Dryer Virginia Circuit Courts

Where plaintiff investors in a failed maternity clothing company sued the company and its two founders, the individual defendants’ demurrers to plaintiffs’ claims are sustained. Plaintiffs are granted leave to amend their complaint. Background Evans and Wilson were co-founders of ...

Tagged with: Corporate Fairfax County Circuit Court Judge Thomas P. Mann Virginia Circuit Courts

Where defendant elected to purchase plaintiff’s shares in lieu of dissolution in this corporate dispute, the court declines to use a revenue determination from defendant’s expert because it is based on unreliable data. The revenue determination from plaintiff’s expert will ...

Tagged with: Corporate Judge David W. Lannetti Norfolk Circuit Court Virginia Circuit Courts

By Stephen M. Honig BridgeTower Media Newswires “Strength lies in differences, not in similarities.” — Stephen R. Covey “Diversity” in business means variance in gender, race, ethnicity, age, disability and experience. Few goals are more discussed, and yet so unachieved, ...

Tagged with: Corporate Diversity

Where a  Virginia-based corporation engages in multistate and multinational sales of an online business service that was developed in Virginia and stored on servers housed in Virginia, the method used by the tax department to allocate nearly 100 percent of ...

Tagged with: Corporate Justice Stephen R. McCullough Supreme Court of Virginia

A member of a dissolved limited liability corporation who is not a lawyer cannot litigate on behalf of the dissolved LLC. A complaint against defendant signed by the member is a “nullity” and defendant’s demurrer is sustained without leave to ...

Tagged with: Corporate Fairfax County Circuit Court Judge David A. Oblon Virginia Circuit Courts

Corporate directors cannot avoid obtaining minority shareholder approval to sell a company by amending its bylaws to redefine a statutory safe harbor provision. The statutory provision is designed to protect minority shareholders when a sale would leave the company without ...

Tagged with: Corporate Justice S. Bernard Goodwyn Supreme Court of Virginia

The “Important Opinions” that appear each week on the front page of Virginia Lawyers Weekly are those chosen by our editors as the most likely to impact law practice or a given subject area of law. Below is a listing, ...

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In a suit alleging usurious loans, two online-lending companies created by Chippewa tribal leaders failed to prove by a preponderance of the evidence that they were entitled to sovereign immunity as arms of the tribe. Background The Lac Vieux Desert ...

Tagged with: Consumer Protection Corporate Judge Robert E. Payne U.S. District Court - Eastern District

The George Mason University Foundation Inc. is an independent corporate entity whose records are not subject to freedom-of-information requirements, even if the records relate to funds used to support the University, itself a public body. Nonetheless, the University’s Gift Acceptance ...

Tagged with: Corporate Education Fairfax County Circuit Court FOIA Government Judge John M. Tran Public Records Virginia Circuit Courts