NewCSI, Inc. v. Staffing 360 Solutions, Inc.
Opinion Date: July 25, 2017
Judge: Jennifer Walker Elrod
Areas of Law: Contracts
After a jury found that a staffing company violated the terms of the stock purchase agreement by which it had acquired another company, the district court entered a judgment against the staffing company for approximately $1.3 million in actual and liquidated damages. The Fifth Circuit affirmed and held that the staffing company's challenge to the sufficiency of the evidence failed; the staffing company's argument that the liquidated damages clause was an illegal and unenforceable penalty provision failed because it forfeited the argument under Fed. R. Civ. P. 8 and 50, as well as failed to establish on the merits that the clause provided for a penalty; the challenge to the amount of the liquidated damages award failed because the district court's calculation of the damages was supported by the language of the stock agreement; and challenges to the jury instructions were rejected.
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