On June 11, the U.S. Court of Appeals for the Second Circuit affirmed a judgment in excess of $10 million in favor of Alston & Bird clients Kevin Brittingham and his company Random Ventures, Inc.
The dispute arose from Brittingham’s sale of his company to firearms giant Remington Arms Company, LLC. Random Ventures designed and manufactured firearms silencers for (among others) military special operations—including SEAL Team 6, the unit commended for killing terrorist leader Osama bin Laden. Remington took note of Brittingham’s success and approached him about purchasing his company. The parties agreed to a deal.
After a seven-day bench trial, the U.S. District Court for the Southern District of New York found that Remington breached the parties’ purchase agreement and did so in bad faith, costing Brittingham millions of dollars. The court awarded Brittingham the earn-out payments due him under the parties’ contracts, his lost salary, and attorneys’ fees. All told, the judgment totaled more than $10 million.
Joining the case at the appellate stage, Alston & Bird lawyers Mitch Mitchelson and Brian Boone convinced the Second Circuit to affirm the damages and fee awards in Brittingham’s favor and to retroactively invalidate certain restrictive covenants in Brittingham’s employment agreement that the district court had left intact. Boone argued the case before the Second Circuit on May 20.
The dispute arose from Brittingham’s sale of his company to firearms giant Remington Arms Company, LLC. Random Ventures designed and manufactured firearms silencers for (among others) military special operations—including SEAL Team 6, the unit commended for killing terrorist leader Osama bin Laden. Remington took note of Brittingham’s success and approached him about purchasing his company. The parties agreed to a deal.
After a seven-day bench trial, the U.S. District Court for the Southern District of New York found that Remington breached the parties’ purchase agreement and did so in bad faith, costing Brittingham millions of dollars. The court awarded Brittingham the earn-out payments due him under the parties’ contracts, his lost salary, and attorneys’ fees. All told, the judgment totaled more than $10 million.
Joining the case at the appellate stage, Alston & Bird lawyers Mitch Mitchelson and Brian Boone convinced the Second Circuit to affirm the damages and fee awards in Brittingham’s favor and to retroactively invalidate certain restrictive covenants in Brittingham’s employment agreement that the district court had left intact. Boone argued the case before the Second Circuit on May 20.