Justia Business Law Opinion Summaries

The Supreme Court affirmed in part and vacated in part the judgment of the intermediate court of appeals (ICA) finding that no evidence was introduced at trial to support the jury's findings that Regal Capital Corporation (Regal Corp.) violated the terms of agreements of sale it entered into with Elesther Calipjo for two parcels of land, Regal Capital Co., LLC (Regal LLC) engaged in unfair and deceptive acts or practices, and Jack Purdy was the alter ego of Regal Corp. and Regal LLC, holding that the ICA's holding was error.Based on the alter ego finding, the jury determined that Purdy, too violated the agreements for the two properties and committed unfair and deceptive acts or practices. The Supreme Court held (1) there was evidence to support the jury's verdict that Regal Corp. violated the terms of the agreements, Regal LLC engaged in unfair and deceptive acts or practices, and Purdy was the alter ego of Regal Corp. and Regal LLC; and (2) the ICA erred when it reversed the circuit court's final judgment against Purdy on the breach of contract and unfair and deceptive acts or practices claims. View "Calipjo v. Purdy" on Justia Law

The Supreme Court affirmed in part and reversed in part the judgment of the intermediate court of appeals (ICA) partially vacating the circuit court's judgment entering judgment against Plaintiffs in this action alleging that Defendants intentionally misrepresented the value of a limousine service, holding that some of the rulings of the trial court in this complex commercial dispute involving the sale of the business were in error.The Lacy Parties represented Goran and Ana Maria Pleho in purchasing the business. The transaction was completed in the name of Goran PLeho LLC (GPLLC). After the purchase, the Plehos and GPLLC (collectively, Pleho Parties) sued, alleging that Lacy Parties intentionally misrepresented the value of the business. The Supreme Court (1) vacated the circuit court's dismissal of Pleho Parties' intentional infliction of emotional distress and negligent infliction of emotional distress claims and the court's grant of judgment as a matter of law in favor of Lacy Parties on GPLLC's fraud and punitive damages claims; (2) vacated the ICA's judgment to the extent that it vacated the circuit court's order denying Lacy Parties' motion in limine; and (3) vacated the ICA's judgment to the extent that it affirmed the grant of summary judgment in favor of Lacy Parties on the Pleho's unfair and deceptive trade practices claim. View "Goran Pleho, LLC v. Lacy" on Justia Law

The Supreme Court vacated the judgment of the intermediate court of appeals (ICA) affirming the circuit court’s order and granting summary judgment for Defendant in this case arising out of the uncompleted sale of one business to another, holding that the plaintiff raised genuine issues of material fact as to its unfair method of competition (UMOC) claim.Specifically, the Court held (1) to raise an issue of material fact as to the nature of the competition requirement of a UMOC claim following the close of discovery, a plaintiff must demonstrate that the defendant’s alleged anticompetitive conduct could negatively affect competition, but the plaintiff need not prove that the defendant in fact harmed competition; (2) to survive summary judgment, a plaintiff may generally describe the relevant market without resort to expert testimony and need not be a competitor of or in competition with the defendant; and (3) the plaintiff in this case raised genuine issues of material fact as to the first and second elements of a UMOC claim, and the circuit court erred erred in holding that the plaintiff was estopped from asserting the UMOC claim based on waiver, judicial estoppel and collateral estoppel. View "Field v. National Collegiate Athletic Ass’n" on Justia Law

This appeal was the most recent development in litigation concerning the ownership and control of the Marn family business. Alexander Marn sought a declaratory judgment and specific performance regarding his rights to the business. Despite a jury demand, the circuit court held a bench trial. Thereafter, the circuit court entered partial final judgment against Alexander. The Intermediate Court of Appeals (ICA) affirmed, concluding that the circuit court did not err in conducting a bench trial instead of a jury trial. The Supreme Court vacated the ICA’s judgment on appeal, holding that the ICA gravely erred in affirming the circuit court’s decision to conduct a bench trial, as Alexander was entitled to a jury trial on his declaratory judgment action, and a jury trial was properly demanded and preserved. Remanded. View "In re Marn Family Litigation" on Justia Law