Link Snacks, Inc. v. Link

This case centered on a dispute between Jack Link and his two sons, Jay and Troy. Jack and Troy filed suit against Jay seeking specific performance of an agreement that would require Jay to surrender his shares in Link Snacks. Jay filed counterclaims alleging Jack and Troy had breached fidicuiary duties owed to Jay by squeezing Jay out of Link Snacks to buy Jay's shares. The circuit court (1) granted specific enforcement of the agreement; (2) concluded that Jay had not been oppressed by Jack and Troy; and (3) remitted the jury's punitive damages award against Jack for breaching fiduciary duties to Jay. The court of appeals granted Jack partial dismissal of Jay's appeal and reversed the circuit court order remitting the punitive damages award against Jack. The Supreme Court affirmed in part and reversed in part, holding (1) the circuit court erred in remitting the award of punitive damages against Jack; (2) the court of appeals properly rejected Jay's oppression claim; and (3) Jay did not, under the benefit-estoppel doctrine, waive his right to appeal the circuit court's decision to limit the evidence Jay could present regarding his theory of damages relating to his breach of fiduciary duty claims. Remanded. View "Link Snacks, Inc. v. Link " on Justia Law