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ACOUSTIC INNOVATIONS, INC. v. SCHAFER

976 So.2d 1139 (Fl. 2008) District Court of Appeal of Florida, Fourth District. ACOUSTIC INNOVATIONS, INC., a Florida corporation, Jay Miller, individually, and Joanne Miller, individually, Appellants, v. Carey SCHAFER, Appellee. No. 4D07-1603. Feb. 20, 2008. Rehearing Denied April 10, 2008. Background: Former employee brought action against corporation, incorporator of corporation, and incorporator's wife, alleging breach of an oral contract to transfer 50 percent of the stock in corporation to employee upon request, and seeking judicial dissolution of the corporation. Corporation asserted counterclaim for misappropriation of trade secrets. The Fifteenth Judicial Circuit Court, Palm Beach County, Diana Lewis , J., severed the counterclaim and, after a bench trial, entered judgment in favor of employee awarding him the value of his shares, ordering incorporator to buy those shares, and placing a constructive trust on all the shares of corporation.

Full post as published by The Trade Secrets Vault on May 03, 2008 (boomark / email).