The Iowa Courtroom of Appeals reversed a $1.4 million award towards a minority shareholder of a family-owned building firm, figuring out the jury was given improper directions as to the defendant’s fiduciary responsibility.
In a March 8 opinion, defendants Joseph J. Manatt and Tanam Actual Property (collectively referred to within the opinion as “Joe”) appealed from the overall verdict discovering him liable to his household’s firm and former place of employment, Manatt’s Inc., objecting to one of many jury’s directions, particularly the inclusion of the time period “shareholder.” The Courtroom of Appeals agreed with Joe, reversing and remanding for a brand new trial.
