The Iowa Court of Appeals reversed a $1.4 million award against a minority shareholder of a family-owned construction company, determining the jury was given improper instructions as to the defendant’s fiduciary duty.
In a March 8 opinion, defendants Joseph J. Manatt and Tanam Real Estate (collectively referred to in the opinion as “Joe”) appealed from the general verdict finding him liable to his family’s company and former place of employment, Manatt’s Inc., objecting to one of the jury’s instructions, specifically the inclusion of the term “shareholder.” The Court of Appeals agreed with Joe, reversing and remanding for a new trial.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]