MANUEL GUTIERREZ, APPELLANT,
v.
RALPH L. SHAFFER AND COLOR-GRAPHICS PHOTOENGRAVERS, INC., APPELLEES
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The court affirmed a judgment against Gutierrez for breach of fiduciary duty and conversion but modified it to remove individual damages to Shaffer, holding that losses belonged solely to the corporation.
Losses from breach of fiduciary duty and conversion belong to the corporation, not individual shareholders, so judgment must be entered only in the corporation's name.
[1] A shareholder cannot recover individual damages for losses suffered by the corporation from breach of fiduciary duty or conversion; recovery belongs solely to the corpora…
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Join FLexlaw to unlock all legal intelligenceGutierrez was found liable for breach of fiduciary duty, conversion, and conspiracy to convert property belonging to Colorgraphics Photoengravers, Inc…
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PER CURIAM.
Manuel Gutierrez appeals a final judgment entered following a jury verdict. The judgment rendered Gutierrez liable for compensatory and punitive damages and Fotographics Gutierrez Corporation liable for compensatory damages to Ralph L. Shaffer and Colorgraphics Photoengravers, Inc., [Colorgraphics] based on allegations of breach of fiduciary duty, conversion and conspiracy to convert Colorgraphics’ property. Finding that any losses sustained were suffered by the corporation and that no separate or distinct injury occurred to Shaffer individually, we direct the trial court to modify the final judgment by deleting Shaffer’s name and entering judgment solely in the name of Colorgraphics. Alario v. Miller, 354 So. 2d 925 (Fla. 2d DCA 1978); Fried v. Easton, 293 So. 2d 87 (Fla. 3d DCA 1974).
We find no error in the trial court’s denial of Gutierrez’s motion for a directed verdict, see generally Ligman v. Tardiff, 466 So. 2d 1125 (Fla. 3d DCA 1985); City of Hialeah v. Rehm, 455 So. 2d 458 (Fla. 3d DCA 1984), review denied, 462 So. 2d 1107 (Fla.1985); Mangel v. City National Bank of Miami, 451 So. 2d 927 (Fla. 3d DCA 1984), or in the jury verdict, which the record reveals to be supported by sufficient competent evidence. Helman v. Seaboard Coast Line Railroad, 349 So. 2d 1187 (Fla. 1977).
Affirmed as modified.
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Deren v. The Honorable Volie Williams, Jr., 521 So. 2d 150 (Fla. 5th DCA 1988)…es for disqualification, and then filing the motion because he has suffered adverse rulings, makes the motion untimely. Fischer v. Knuck, 497 So. 2d 240 (Fla.1986); Averbuch v. Lauffer, 516 So. 2d 973 (Fla. 4th DCA 1987). See also Richards v. Kaney, 490 So. 2d 1299 (Fla. 5th DCA 1986). A motion to disqualify the judge filed some 2½ years after the facts are known comes too late. Moreover, I believe the grounds asserted are so subjective as to fail to present a well-founded fear that the judge is biased in fa…
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Lincoln Oldsmobile, Inc. v. Branch, 574 So. 2d 1111 (Fla. 1st DCA 1990)…n action in his own name but must bring it in the name of the corporation. This is true even where the individual is the sole stockholder of the corporation. Schaffer v. Universal Rundle Corp., 397 F. 2d 893 (5th Cir.1968); see Gutierrez v. Shaffer, 490 So. 2d 1299 (Fla. 3d DCA 1986). The individual award to Branch is reversed. Attorney’s Fees In the final phase of this litigation, the lower court awarded Branch and Dean attorney’s fees of $35,750.00 and costs of $757.40. Based upon our foregoing holdings,…
Authorities Cited
- Helman v. Seaboard Coast Line R.R. Co. & William A. Cagle, 349 So. 2d 1187 (Fla. 1977)
- Alario v. Miller, 354 So. 2d 925 (Fla. 2d DCA 1978)
- Ligman v. Jeffrey Tardiff, M.D., 466 So. 2d 1125 (Fla. 3d DCA 1985)
- The City OF Hialeah v. Rehm, 455 So. 2d 458 (Fla. 3d DCA 1984)
- Mortimer Fried v. Easton, 293 So. 2d 87 (Fla. 3d DCA 1974)
- Mordechai Mangel v. City Nat'l Bank OF Miami, 451 So. 2d 927 (Fla. 3d DCA 1984)