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.