Article: Verdicts & Settlements September 28, 2009: Jury awards $72,800 in suit over stock deal

Article from:
Missouri Lawyers Media
Article date:
September 28, 2009
Author:
Copyright

A St. Louis County man received a $72,800 jury verdict in a suit he brought for more than $3 million against a pool design and construction company in which he once owned stock.

Douglas Caton bought shares of Westport Pools Inc. from defendant James H. Bastian in December 2002. Under the terms of the purchase, Westport was allowed to make distributions that Caton would be required to use to pay for his purchase of the stock from Bastian under promissory notes.

In 2004, Westport was unable to make the discretionary distributions, and Caton did not make any payments. Caton's stock was then transferred back to Bastian.

The plaintiff alleged that Westport and Bastian breached their fiduciary ...

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