American Master Lease LLC v. Idanta Partners, Ltd.

Good Law

171 Cal. Rptr. 3d 548·2014 Cal. App. LEXIS 402·2014 D.A.R. 5739·225 Cal. App. 4th 1451·2014 WL 1761583

Court of Appeal of CaliforniaMay 5, 2014B244689ACalifornia17,982 words

Opinion

Segal, J.

INTRODUCTION

In this appeal we consider the questions (1) whether a defendant can be liable for aiding and abetting breach of fiduciary duty without owing the plaintiff a fiduciary duty, (2) what is the statute of limitations for aiding and abetting breach of fiduciary duty, (3) whether the restitutionary remedy of disgorgement is available for aiding and abetting breach of fiduciary duty, and (4) what is the measure of restitution for aiding and abetting breach of fiduciary duty. We answer these questions (1) yes, (2) three or four years (depending whether the breach is fraudulent or nonfraudulent), (3) yes, and (4) the net profit attributable to the wrong.

Defendants Idanta Partners, Ltd., David J. Dunn, Steven B. Dunn, and the Dunn Family Trust appeal from a judgment on a jury verdict in favor of plaintiff American Master Lease LLC (AML) and from an order denying their motion for judgment notwithstanding the verdict. The jury found defendants liable for aiding and abetting breach of fiduciary duty and awarded restitution in the amount of approximately $5.8 million. Defendants argue that the judgment must be reversed because they cannot be liable for aiding and…

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Parties

AMERICAN MASTER LEASE LLC
Plaintiff
IDANTA PARTNERS, LTD.
Defendant

Judges

Segal

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