Rael & Letson v. Clark CA1/4
Rael & Letson (R&L, or the company) brought this action against defendants Michael Clark and the Clark Family Partnership (CFP), alleging Clark, the company’s Chief Executive Officer (CEO), misappropriated more than $3,000,000 in company funds under the guise of business expenses. The trial court entered judgment for R&L. R&L appeals, contending the judgment does not accurately reflect the jury verdict, that it was entitled to additional prejudgment interest, and that it was entitled to additional damages. We interpret the jury verdict to reflect a total damage award of $2,939,974, with CFP jointly and severally liable for $1,267,129 of that amount, and shall order the trial court to modify the judgment accordingly. We shall also order the trial court, on remand, to recalculate prejudgment interest and damages for breach of the duty of loyalty.
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