Rasby v. Pillen

The Eighth Circuit affirmed the district court's grant of defendant's motion for summary judgment for defendant in an action alleging that defendant's actions created "significant duress" that forced her to sell her minority interests in Progressive Swine Technologies. The court held that plaintiff failed to prove actionable economic duress under Nebraska law; the Unit Purchase Agreement was not unconscionable as a matter of law, and the district court properly determined that plaintiff failed to show a fraudulent misrepresentation on which she relied in entering into the Unit Purchase Agreement; and because plaintiff did not enter into the Agreement as the result of actionable economic duress, and the Agreement was not the result of fraudulent inducement, the Agreement's mutual release provision barred plaintiff's other claims, including a claim that defendant breached his fiduciary duty to a minority shareholder and a claim that defendant had previously deprived plaintiff of a corporate opportunity. View "Rasby v. Pillen" on Justia Law

Posted in: Business Law

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