Daly v. Rowe

Citations

• 199 N.E.3d 237
• 2022 Ohio 3750

Syllabus

CLOSE CORPORATION – BREACH OF FIDUCIARY DUTY – DERIVATIVE ACTION – DAMAGES – EVIDENCE – APPELLATE REVIEW/CIVIL: Where the shareholder plaintiff of a close corporation suffered an injury separate and distinct from the corporation, the trial court did not err in finding that plaintiff had standing to bring a direct claim for breach of fiduciary duty. Where plaintiff introduced evidence regarding the corporation's annual sales and profit margins, as well as the percentage of profits received by the shareholders, for a five-year period preceding the events leading to the current litigation, and also introduced evidence regarding the corporation's sales following the event that precipitated the litigation, the trial court erred in finding that plaintiff failed to carry his burden of proving damages.