Levey v. Brownstone Asset Mgmt., LP, et al.

Plaintiff and three individual defendants worked together as principals in a financial services boutique. After plaintiff resigned, he sought a declaration that he continues to own equity stakes in two of the entities. The court concluded that plaintiff withdrew from the entities as of January 26, 2006; because plaintiff only presented evidence a trial sufficient for the court to determine the value of his capital accounts and did not present any evidence of the fair value of his interests, the most plaintiff can receive is the value of his capital accounts; and, therefore, plaintiff is awarded $35,042.67, plus pre- and post-judgment interest from January 6, 2006, until the date of payment. View "Levey v. Brownstone Asset Mgmt., LP, et al." on Justia Law