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Anthony Ostlund Wins $12,000,000 Jury Verdict Plus Agreed Purchase of Client’s Shares

  • November 12, 2021

Senior trial counsel, Rich Ostlund, recently led an Anthony Ostlund trial team in winning a $12,000,000 jury verdict after two weeks of trial in Minneapolis.  In Jim Koch v. SKT/Koch Trucking, Koch Industries, Randy Koch and Dave Koch, the jury found that all defendants breached a 2006 contract with Jim Koch, and also held that all defendants breached the duty of good faith which they owe to Jim Koch, who is also a shareholder of both defendant companies and a director of SKT/Koch Trucking.

 

The Anthony Ostlund trial team in Koch also included Randy Gullickson, Shannon Awsumb, and Joe Janochoski, assisted by paraprofessional Shannon Flinn.  Opposing defense counsel are Dorsey & Whitney (Ed Magarian), Winthrop & Weinstine (Brooks Poley), and Madel P.A. (Chris Madel).

 

The Anthony Ostlund team at trial also presented for decision by the judge, a claim that Randy Koch and Dave Koch breached their fiduciary duties, and that Jim Koch is entitled to a court-ordered fair value buy-out of his shares in Koch Trucking and Koch Industries.  At trial, Anthony Ostlund presented expert valuation testimony supporting a stock buy-out award to Jim Koch of between $60,950,000 and $72,830,000.

 

In August 2021—after the trial was completed—the Defendants stipulated to the buy-out claim, after opposing it since the case began in 2017.  Accordingly, the remaining decision for the Judge is to set the price and payment terms for the buy-out of Jim Koch’s shares, which is to be issued in early 2022.

related attorneys

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Shannon M. Awsumb

Randy G. Gullickson

Richard T. Ostlund

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Complex Commercial Litigation

Contract Disputes

Owner/Shareholder Disputes

Valuation Disputes

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