Share and share alike

Claims Examples Paid by Directors and Officers Liability Insurance

Share and share alike

The claimants were employees who alleged that they were each promised a 10% shareholding in the business when they were made directors. The managing director who was alleged to have made the promise maintained that the discussions were informal and nothing had been confirmed in writing. The claimants sought performance of the agreement and damages for breach of contract, plus interest. Defence costs were in excess of £170,000.