The law firm of Campbell Guin capped off the holidays by winning another seven-figure commercial litigation verdict—the firm’s second in a six-week span. On December 26, Judge Michael Graffeo issued a $2.55 million verdict in favor of Campbell Guin’s client, Ron Williamson. The case was styled Williamson v. Donald Porter; Marc Porter; Porter Capital Corporation; Porter Bridge Loan Co., Inc.; Lowerline Corp.; Capital Partners Leasing, Inc.; and Capital Partners Leasing, LLC, 13-902152-MGG. Williamson was represented by Campbell Guin’s managing partner, Andrew P. Campbell and partner Stephen D. Wadsworth.
According to the order, Williamson held a 10% interest in Porter Capital and other entities owned jointly with his uncles, Donald and Marc Porter. Williamson and Marc Porter were responsible for the day-to-day management of Porter Capital.
The Porters terminated Williamson as an employee on August 3, 2012. Williamson retired as a shareholder later that year. Litigation began when the sides could not agree on a price for Williamson’s shares, the method for valuing the shares, or whether Williamson was entitled to be bought out at all.
The Court held that Williamson was entitled to have his shares purchased within 90 days using the valuation methods and price Williamson proposed. This price was based on the work and expert testimony of Goodloe White of Porter White & Company of Birmingham. The Court held that Williamson’s shares as of the end of 2012 when Williamson left Porter Capital was $2,256,120.80. The Court then awarded Williamson an additional $298,838.50, which represented his pro rata share of undistributed corporate profits.