California Court of Appeal

In beneficiaries' suit against a trustee for breach of trust, trial court's judgment is affirmed in part, reversed in part and remanded where: 1) plaintiffs are not entitled to the disgorgement of profits made on Qualcomm stock purchased by defendant in August 1988 and September 1989; 2) the award of disgorgement of profits arising from defendant's stock purchase from an individual in May 1991 was proper, but the vacation of the modification of the award is void; 3) plaintiffs are entitled to an award of lost profits resulting from the sale of Trust No. 2's Qualcomm stock in May 1992; 4) the plaintiffs are not entitled to lost profits resulting from the sale of Trust No. 2's Qualcomm stock in April 1999; 5) plaintiffs are entitled to an award of damages resulting from the failure to protect the value of Trust No. 1's investment in Qualcomm stock in and after January 2000; 6) the award of damages resulting from defendant's use of trust funds to pay for his legal defense includes excessive prejudgment interest; 7) plaintiffs are entitled to prejudgment interest on the award of the disgorgement of profits arising from defendant's stock purchase from the individual in May 1991; 8) plaintiffs are entitled to prejudgment interest on the award of damages resulting from the sale of Trust No. 2's Qualcomm Stock in May 1992; 9) plaintiffs are entitled to prejudgment interest on the award of damages resulting from the failure to protect the value of Trust No. 1's investment in Qualcomm stock in and after January 2000; 10) the parties have shown no error in the punitive damages award; and 11) the attorney fee award was unauthorized.

Appellate Information

• Decided 09/22/2010
• Published 09/22/2010

Judges

• CROSKEY

Court

• California Court of Appeal

Counsel

• For Appellant:
  
• Rex S. Heinke, Bernard J. Nussbaum