Black River Gets $3M Award Tossed In Profit-Sharing Suit

Law360, New York (January 12, 2012, 6:27 PM EST) -- A Texas appeals court on Thursday reversed a lower court's decision that awarded a former consultant for Black River Capital LLC more than $2.7 million in damages after he accused his business partner of wrongly withholding his share of the profits.

The three-judge panel found the trial court had erred in ruling in favor of John Wimberly II, saying the most recent contract executed between him and his former partner Douglas Strebel gave Strebel control of profit distribution for the advisory tax service. The breach of...
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