The plaintiff, a former senior executive, moved for summary judgment to enforce payment of outstanding installments for the sale of his shares to the defendant company.
The defendant resisted, asserting an equitable setoff for alleged breaches of fiduciary duty and misappropriation of confidential information by the plaintiff after his departure.
The court found no genuine issue for trial regarding the alleged breaches of fiduciary duty or misappropriation of confidential information, dismissing the defendant's setoff claim.
The court granted summary judgment to the plaintiff for the present value of the outstanding share payments, determining an appropriate discount rate based on expert evidence.
