In June, Matt Fletcher and Anika Prednis obtained a complete defense verdict in a family-owned business dispute for Anna Kim and, after post-trial motions, a favorable result for her parents Myong and Kyong Kim (“Mom and Dad”).

In 2021, the plaintiff Mira Kim sued her parents and her sisters, Anna Kim and Gina Kim (represented by Kahana Feld), for breach of fiduciary duty, breach of contract, conversion, voidable transfers, and disassociation. The allegations primarily related to money paid to the parents from a family business, May Enterprise, LLC (“M.E.”), which was owned by Mira, Anna, and Gina. Mira and M.E. alleged that Gina Kim and Anna improperly distributed $1.9 million from M.E. to her parents. Gina and Anna maintained that Mira had authorized the distributions.

Matt Fletcher said, “Mom and Dad achieved the American Dream and then multiplied it times three – once for each of their daughters.” Anna Kim said, “Our parents did everything for their children. It makes me sad that this had to be resolved in court.”

Mira was represented at trial by Ariel Neumann, a former federal prosecutor, and Julia Cherlow of Bird Marella LLP. Mira and M.E. sought over $20 million in damages and punitive damages. After a five-week trial and post-trial motions, M.E. received a judgment for only $12,000 in compensatory damages against Mom and Dad and $120,000 in punitive damages against Dad. Mira received a judgment for $17,371.26 in damages against Dad and Gina and $0 in punitive damages. In total, the judgment is a small fraction of the $20 million Plaintiffs were seeking.

Anika Prednis said, “This was a family business that the family ran informally; decisions were often made at the dinner table and never in a boardroom.” Fletcher added, “Gina, Anna, and the parents’ testimony about how the family made business decisions made the most sense.”

Fletcher added, “I told the jury they would watch the American Dream turn into a nightmare. The nightmare is over, and the ending validates the positions our clients took at trial.”

Matt Fletcher led the Tucker Ellis team, which included Anika Prednis as second chair, with significant support from John Yoo and paralegal Lynn Pham. Ben Sassé handled the post-trial briefing and oral argument. Samuel Yu and Daniel Yu of Kahana Feld represented Gina Kim, who also obtained a favorable defense result. Kim Passey and Trial Support served as trial technicians.

About Tucker Ellis LLP

Tucker Ellis LLP is a full-service law firm of more than 240 lawyers serving clients nationwide from 11 locations: Atlanta, Chicago, Cleveland, Columbus, Los Angeles, Morristown, New York City, Orange County, San Francisco, St. Louis, and the Washington, D.C. Metro Area. The firm is proud to serve a Fortune 250 list of national litigation and intellectual property clients, as well as sophisticated business clients, for whom we individually tailor our client service teams. For more information, please visit tuckerellis.com.

This press release is for informational purposes only and is not a guarantee regarding the outcome of any legal matter. Each case is different and must be evaluated on its own facts and circumstances.