Fifth Circuit: Le v. Exeter Fin, et al

 

As the vested equity valuation was contractually assigned to the Board of Directors, a motion for a discovery continuance to reach outside auditors' valuations of the vested equity was untimely; an appeal challenging the exclusion of evidence must specifically identify the evidence and the legal standard.

Non-zero determinations of vested equity at time of hiring and in subsequent audits did not make the Board's determination of nil value unreasonable.

An unenforceable agreement to later agree on a severance agreement did not create any obligation on either party when severance happened prior to the formation of the agreement.

Claim of fraudulent inducement under state law requires actual reliance.

Misrepresentations of prior employment foreclose equitable relief in quantum meruit.

Discovery stipulation between parties during discovery was inappropriate, as the unilateral declaration of secret materials prevents the court from conducting the necessary public interest balancing when deciding whether the record should be sealed.

Le v. Exeter Fin, et al