The Delaware Court of Chancery has issued a ruling finding in favor of Shlansky Law Group’s clients against Robert A. Maginn, Jr., former Chairman and Chief Executive Officer of Jenzabar, Inc. The Court found that Mr. Maginn breached his fiduciary duty of loyalty and was unjustly enriched as the Manager of an investment company that he formed. The Court has assessed damages against Mr. Maginn in the amount of $25,451,992. The case remains subject to further proceedings.
Read the Delaware Court of Chancery’s Memorandum Opinion here.