Category Archives: Business & Commercial Litigation

CIFG Breach of Contract Claims Upheld Against Goldman Sachs

Goldman Sachs Group Inc. fails in its attempt to have breach of contract claims brought against them by CIFG Assurance North America dismissed. The lawsuit is over $275 million in mortgage-backed securities that it insured.

The suit was filed by CIFG last August. CIFG alleges that Goldman Sachs knowingly sold risky mortgage bonds to get them off its books.

Though New York Supreme Court Justice O. Peter Sherwood dismissed come of the fraudulent claims included in the lawsuit, the judge refused to dismiss three of the breach of contract claims. CIFG is seeking compensation for claims, as well as buy-backs of non-performing loans.

If you own a business, then you understand the risks associated with running it. A breach of contract dispute can arise over just about any contractual issue. That is why you should take every measure possible to eliminate the risk of a breach of contract dispute.

Part of that process includes utilizing the legal services of an experienced business litigation attorney. The Ferguson Law Group has helped countless businesses avoid litigation by helping them draft and execute business contracts. We know what to look for.

We have also helped many small business owners negotiate and mediate breach of contract disputes. We will work hard to help you avoid costly litigation and find an amicable resolution to your unique dispute.

If you are the victim of a breach of contract or facing a breach of contract dispute, you should call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Boeing May Face Rehearing Over Breach of Contract Dispute

ICO Global Communications is requesting a new hearing concerning its $603 million breach of contract dispute against Boeing Co. ICO Global is requesting the new hearing following a California appellate court’s decision that reversed the multi-million dollar verdict.

About the petition

The petition, which was filed on Monday, April 30, 2012, claims that ICO Global’s due process rights were violated after two 2nd District Court of Appeal Justices recused themselves one after the other after months of arguments. There was no indication as to why the justices disqualified themselves.

ICO Global claims that the eventual new justice lacked inadequate time to review the case. They have also raised the possibility that the recused justices may have influenced the decision-making process. The communications company is requesting the new hearing before a new panel of justices.

Avoiding your own breach of contract dispute

Breach of contract dispute litigation is not only messy, but time consuming and expensive. Ensuring that your contracts are drafted and executed properly is key to avoiding a breach of contract dispute.

How we can help

The experienced team at the Ferguson Law Group has helped countless business owners through the process of drafting and executing business contracts. We have also helped many businesses navigate through the complex process of a breach of contract dispute.

Our Dallas business litigation attorneys understand the stress associated with disputes. That is why we do everything possible to minimize the disruption your legal matters can cause and help you reach a resolution you are satisfied with.

If you feel that you have been wronged or if you are facing a breach of contract dispute, you should call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Negotiating or Mediating Your Landlord-Tenant Dispute

It’s almost always better to settle your commercial landlord-tenant dispute directly with your landlord. It’s oftentimes cheaper and quicker. However, in certain situations litigation is inevitable.

Negotiating your landlord-tenant dispute
Litigation over landlord-tenant disputes can prove costly and time consuming. If you are like most small business owners, you don’t have time for a legal battle. Here are five pointers to resolving your landlord-tenant disputes:

  • Determine ahead of time your desired outcome. Before meeting with your landlord, you need to determine what you want to happen, what your bottom line is and where you are willing to compromise.
  • Meet with your landlord in person. We have become so dependent on electronic communication. It’s often easier to reach an amicable solution when you meet face to face. Pick a quiet time and place in a neutral location.
  • Don’t get personal. You should avoid making personal attacks against your landlord. Though you should not appear weak, you should focus on being courteous. This can go a long way in the negotiation process.
  • Empathize with your landlord. Put yourself in your landlord’s shoes. Consider how you would negotiate the dispute if the roles were reversed.
  • Speak with an experienced attorney. Unfortunately, your relationship with your landlord may be so strained that reaching a mutual agreement could be impossible without legal action. An experienced Dallas commercial litigation attorney can advise you on your rights and the best course of action.

How we can help
The Ferguson Law Group has helped many business owners negotiate and mediate their landlord-tenant disputes. Our goal is to help you reach the best possible outcome for your business.

If you are facing a landlord-tenant dispute, you should call one of our Dallas commercial litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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J.C. Penney Sued for $40M over Breach of Contract Dispute

A breach of contract dispute can arise over just about any issue. It can prove to be costly and time consuming, such as with the case between J.C. Penney and a visual marketing firm.

J.C. Penney Sued for Breach of Contract

New York-based Hudson + Broad Inc., a visual merchandising firm, has filed a suit in New York against J.C. Penney alleging breach of contract and misappropriation of trade secrets. They are seeking $40 million—$20 million for compensatory damages and $20 million in punitive damages, from J.C. Penney.

Large square Plexiglas LED light displays are at the center of the controversy. According to the plaintiff, J.C. Penney had agreed to purchase 1,800 of the proprietary displays and install them in stores across the country.

According to Hudson + Broad, the department store giant notified them on April 3, 2012, that it would be outsourcing the production of the displays to another company.

Protecting your company

Protecting your company from a similar breach of contract dispute is paramount to the viability of your company. It is imperative that all your business contracts, whether with manufacturers, distributers or vendors, are drafted properly. Any mistake can lead to costly litigation.

How we can help

The Ferguson Law Group has successfully handled all phases of contract dispute resolutions. We have also helped countless businesses in creating contracts in order to avoid breach of contract disputes. Even if you are currently facing a breach of contract dispute, whether you are the plaintiff or the defendant, we can help you every step of the way.

If you are involved in a breach of contract dispute, you should call one of our experienced Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Avoiding Dallas Corporate Shareholder Disputes and Litigation

A corporate shareholder dispute can result in litigation, which in the end can prove to be time consuming and affect your bottom-line. Unfortunately, not all shareholder disputes can be avoided.

Four strategies to deal with shareholder disputes

Here are a few strategies you can employ in the event a shareholder dispute arises:

  • Expand your Board of Directors. In some cases, depending on the number of directors your company has, a vote can result in a deadlock. By expanding your board of directors, you can avoid and/or eliminate a deadlock. In addition, new board members can offer different point of views not previously considered.
  • Consider Purchasing Control. This is a great option if each of your board members owns an equal number of shares. One of your board members may consider selling their shares and potentially giving you or another board member a controlling interest in your company.
  •  File for Chapter 11. In some instances, filing for bankruptcy reorganization can result in a particular shareholder, or group of shareholders, gaining company control.
  • Draft and Execute a Buy-Sell Agreement. Though this is ideally done at the inception of the company, an experienced Dallas business litigation attorney can help you with this at any time. Shareholders should enter into a written agreement that specifies the shareholder’s rights in the event there is a death, deadlock, disability or when the company is sold.

Avoid litigation

At the Ferguson Law Group, we are experienced in handling shareholder disputes. Whether you are the plaintiff or the defendant, we can help you reach an amicable resolution and avoid costly litigation.

If you are looking to draft a shareholder’s agreement or facing a corporate shareholder dispute, you should call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Groupon Under Investigation for Breach of Fiduciary Duty

If you are a shareholder and feel that your rights have been violated, you may be able to file a breach of fiduciary duty claim against that company. The case against Groupon Inc. is a prime example.

Groupon is currently under investigation for potential breach of fiduciary duty by the online company’s board of directors. The claims have been brought against Groupon by current shareholders.

Groupon’s board of directors is being accused of providing shareholders with false revenue reports, misleading statements and failing to maintain effective internal controls. If true, these actions are a violation of certain federal and/or state securities laws. In response to these allegations, the U.S. Securities and Exchange Commission launched a probe into Groupon.

Companies have an obligation to be forthcoming about their financial situations with their shareholders. As a shareholder, if you feel that your rights have been violated, you might be able to hold the company liable for your losses. However, it can be difficult to prove.

At the Ferguson Law Group, we are experienced in representing plaintiffs in breach of fiduciary claims. We can help you determine if you have a legitimate claim and hold that company responsible.

For answers to your questions, call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Keith Olbermann Sues Current TV for Breach of Contract

Any breach of contract dispute is a good reminder to make sure your business is protected in case of a lawsuit. Recently, Keith Olbermann filed a lawsuit against Current TV for breach of contract, sabotage and disparagement. He claims that he is owed tens of millions of dollars.

Last month, Current TV announced that it severed ties with Mr. Olbermann. The network claims that its relationship with Mr. Olbermann no longer represented the “values of respect, openness, collegiality and loyalty to its viewers.” The network also claimed that Mr. Olbermann missed 19 of 41 work days in January and February.

Mr. Olbermann filed his lawsuit in Los Angeles Superior Court claiming he is under contract for five years. According to the former MSNBC host, he is owed $10 million for each of those years and was fired without cause after one year.

Obviously, the courts will have to resolve this lawsuit, but it’s a great reminder to ensure that your business is protected from a breach of contract dispute, which can arise from just about any issue.

A breach of contract dispute can be time consuming and expensive to litigate. Our experienced team of Dallas business attorneys at the Ferguson Law Group can help protect your business. Allow our team to review and/or draft your contracts before they are executed. We can help you save time and money down the road.

If you are facing or looking to protect your business from a breach of contract dispute, you should call one of our Dallas business attorneys at the Ferguson Law Group at (972) 378-9111.

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When Your Dallas Business Becomes Victimized by a Breach of Fiduciary Duty

Regulations concerning a breach of fiduciary duty not only apply to the banking and real estate world. People in high positions within companies have a fiduciary responsibility to the company by which they are employed.

What is fiduciary duty?

Fiduciary duty can be defined as the legal obligation that one party has to another by acting in their best interest. It can also be referred to as fiduciary obligation. In short, your key employees have an obligation to act in the best interest of your company.

Who may have a fiduciary duty to your company?

People who are in a position of trust and may have a fiduciary relationship with your company include:

  •  Officers
  • Managers
  • Board of directors
  • High-level employees
  • Agents
  • Brokers

Is a breach of fiduciary duty harder to prove than fraud?

Fortunately, a breach of fiduciary duty is often easier to prove than fraud. In a breach of fiduciary duty, you, as the claimant, have only to prove that the defendant held a position of trust and fiduciary relationship and that they breached that duty to benefit themselves.

What can you do?

When someone in your company has breached his or her fiduciary duty, you can file a civil action claim. You may be eligible to receive damages from lost profits and recover those profits.

At the Ferguson Law Group, we have represented many plaintiffs and can help you recover your damages. We are experienced in breach of fiduciary duty claims and will fight for you to hold those who have broken your trust liable for their actions.

If a high level employee has breached his or her fiduciary duty, you should call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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Why a Boilerplate Contract Could Lead to a Dallas Business Dispute

A Dallas contract dispute, whether with vendors, suppliers, landlords, employees or partners, can be very time consuming and expensive to settle and/or litigate. That is why you should take every precaution necessary to avoid a contract dispute before ever entering into an agreement.

The dangers of boilerplate contracts

As unimaginable as it may seem, many business owners enter into contracts regularly without carefully reading and considering what the contract stipulates. Many take comfort in knowing that a contract, or portion thereof, is a boilerplate agreement. These can be dangerous, especially when it comes down to contract disputes.

Pre-dispute resolution provisions

Many boilerplate contracts include pre-dispute resolution provisions dictating how a contract dispute will be handled before a dispute occurs. Unfortunately, many people don’t give these provisions much thought while entering into an agreement, until later when they lack the proper legal recourse to resolve a dispute.

How to avoid crippling boilerplate provisions

The last thing you want when a contract dispute arises is to realize you lack the legal ability to resolve a contract dispute beneficially for your business. Before entering into any contract, you should:

  • Read the entire contract
  • Have an experienced Dallas business attorney review the documents with you
  • Don’t be afraid to make changes and counter any requests
  • Determine how disputes are to be handled
  • Read the final draft before signing the contract

The Ferguson Law Group can assist you in all your business contract needs. We have an experienced team who has worked with hundreds of businesses like yours and has helped them avoid litigation.

If you are involved in a business contract dispute or looking to draft a contract, you should call one of our Dallas business attorneys at the Ferguson Law Group at (972) 378-9111.

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Understanding Dallas Business Partnership Disputes

No matter what lengths you go to, not all Dallas business partnership disputes can be avoided. Unfortunately, many business owners are finding that partnership disputes are becoming more and more common.

About business partnerships

Understanding some of the basics about business partnerships can ultimately help you avoid some of the time consuming and expensive pitfalls. A business partnership:

  • Is created when two or more people share the profits and losses of a business by working together.
  • Is governed by the Partnership Act of 1890. The provisions of this Act, though considered outdated by many, apply when there is no partnership agreement created.

Preventing a business partnership dispute

Obviously, one of the key elements to avoiding a partnership dispute is to make sure all agreements are in writing. From the outset, all parties should select an experienced Dallas business attorney to create a written partnership agreement. It is vital that all possible circumstances are considered, such as:

  • What happens when there is a disagreement among the partners. Will the issue go to arbitration?
  • What happens when there is a deadlock on votes?
  • What happens when a partner wants out? Will that person retain ownership and/or will the other partners have the right to buy that partner out?

Avoiding long and costly legal battles

These are just a few of the many considerations that need to be discussed in a business partnership agreement. At the Ferguson Law Group, we are experienced in helping businesses create partnership agreements. We can help you avoid future disputes by ensuring that your partnership agreement(s) consider all the possible issues that could arise in the future.

If you are facing a partnership dispute or looking to create a business partnership agreement, you should call one of our Dallas business litigation attorneys at the Ferguson Law Group at (972) 378-9111.

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