Management Capital, LLC v. F.A.F., Inc.
The Supreme Court affirmed the superior court's judgment ruling in favor of Plaintiff, Management Capital, LLC, on its complaint filed after Defendant, F.A.F., Inc., maintained that a common stock warrant held by Management had no value, holding that the superior court did not err in its judgment. Specifically, the Court held that trial justice did not err when he (1) reformed certain dates in a stock warrant that he found were a result of mutual mistake; (2) determined that “funded debt” was an unambiguous term meaning “long-term debt”; (3) found that FAF repudiated its obligations under the stock warrant; (4) found that Management properly preserved its post-repudiation rights; (5) determined that Management proved its damages with reasonable certainty; and (6) determined that prejudgment interest accrued beginning on October 13, 2008. View "Management Capital, LLC v. F.A.F., Inc." on Justia Law