United States Second Circuit

In breach of contract dispute, award of damages by district court to plaintiff upon finding that defendant breached an options contract by retroactively valuing company's shares, such that options held by plaintiff were worth approximately half of their true value, is affirmed where nothing in contract expressly authorized defendant to arbitrarily and retroactively revalue shares after plaintiff exercised right to options.

Appellate Information

• Decided 03/04/2011
• Published 03/04/2011

Judges

• POOLER

Court

• United States Second Circuit

Counsel