$2.7M Settlement for Wrongful Discharge, and Shareholder Oppression
Employment Severed, Bonuses Paid To Other Co. Members
From the November 12, 2001 Michigan Lawyers Weekly.
Prior to September 1999, the plaintiff owned 25 percent of the stock of Causley Pontiac-GMC, and was also employed there. In September 1999, his employment with the company was severed. Thereafter, the company refused to pay dividends to the plaintiff and, instead, began paying shareholders bonuses which the plaintiff contended were disguised dividends.
The plaintiff claimed, among other theories, minority shareholder oppression for which he sought payment for the fair value of his stock.
Type of action: Shareholder oppression; wrongful discharge
Type of injuries: Fair value of stock; lost wages
Name of case: Causley v. Jim Causley, Inc., d/b/a Causley Pontiac-GMC, et al.
Court/case no./date: Macomb County Circuit Court, #00-3924-CB, Oct. 5, 2001
Name of judge: Mark Switalski
Jury demand: Yes
Verdict or settlement amount: $2.7 million settlement
Attorneys for the plaintiff: Gerard Mantese and Marc L. Newman
Attorney for the defendant: Withheld
Name/city of most helpful experts: Jeff Risius and Thomas Frazee, Stout Risius and Ross, Inc., SouthfieldDownload