Jury Returns Verdict for Minority Shareholder in Long-Fought Shareholder Dispute
On December 12, 2014, a Delaware jury returned a verdict for a minority shareholder on all counts following a three day trial in federal court. David Felice, of Bailey Glasser’s Wilmington, Delaware office, represented the minority shareholder. The shareholder dispute centered on the majority owner and sole director’s failure to distribute proceeds from the sale of US Mobilcomm, Inc.’s Federal Communication Commission’s (the “FCC”) licenses from 2000 through 2002. Felice and the minority shareholder were able to establish the terms of the parties’ agreement in the 1990s and that the proceeds from the sale of the FCC licenses should have been distributed to the shareholders rather than be used to repay alleged shareholder loans.