Daily Legal News - Probate Court Notices : 2018 ADV 239801 Harry E. Figgie IV, et al.

  • LEGAL NOTICE

    2018 ADV 239801—Harry E. Figgie IV, et al. vs. Betsy Figgie, et al.

    The unborn and unknown lineal descendants of Harry E. Figgie IV; the unborn and unknown lineal descendants of Catherine E. Figgie; the unborn and unknown lineal descendants of Susan A. Figgie, the place of residence of each being unknown, will take notice that on April 19, 2019, the undersigned, Harry E. Figgie IV, and Catherine E. Figgie, filed their first amended complaint in the Probate Court One Lakeside Avenue, N.W., of Cuyahoga County, Ohio, alleging that this is an action to recover money and/or damages for an unfair closely held business stock share redemption transaction from a trust; that material information regarding the foregoing share transaction was concealed for years from the beneficiaries of the trust and was, and could only recently have been discovered in November 2018.

    Plaintiffs hereby request the following relief on this First Amended Complaint:

    A. As to Count 1: An order of this Court declaring:

    i. That the 2001 redemption of CRC Stock was below value;

    ii. That the improper benefits and proceeds from the redemption are in the Harry Jr. Trust, the Nancy Trust, the Matthew Trust, and in CRC and;

    iii. The amount of the lost value to the Plaintiffs and/or the Plaintiffs' beneficial interests in the Harry III Trust and/or the CRC Stock.

    iv. Defendants are equitably estopped from denying liability and/or these claims stemming from the fraudulent conduct asserted herein.

    B. As to Count 2:

    i. A judgment or verdict in favor of the Plaintiffs in an amount in excess of $25,000 plus an award of punitive damages and Plaintiffs' incurred attorney fee/costs/expenses.

    ii. An order imposing in favor of the Plaintiffs a constructive trust over the Defendants' assets derived or traced from the improper benefits, gains, appreciation, profits from the 2001 redemption of the CRC Stock.

    iii. A finding and/or order that the Defendants are estopped from denying liability in this case.

    C. As to Count 3:

    i. A judgment or verdict in favor of the Plaintiffs in an amount in excess of $25,000 plus an award of punitive damages and Plaintiffs' incurred attorney fees/costs/expenses.

    ii. A finding and/or order that the Defendants are estopped from denying liability in this case.

    D. As to Count 4: An order finding the Defendants were unjustly enriched and that Defendants are to compensate the Plaintiffs' for said unjust enrichment in an amount in excess of $25,000.

    E. As to Count 5:

    i. A judgment or verdict imposing in favor of the Plaintiffs a constructive trust over the Defendants' assets derived or traced from the improper benefits, gains, appreciation, profits from the 2001 redemption of the CRC stock.

    ii. A finding and/or order that the Defendants are estopped from denying liability in this case.

    F. As to Count 6:

    i. A judgment or verdict in favor of the Plaintiffs in an amount in excess of $25,000 plus an award of punitive damages and Plaintiffs' incurred attorney fees/costs/expenses.

    ii. A finding and/or order that the Defendants are estopped from denying liability in this case.

    G. As to all Counts (1-6):

    i. An award to the Plaintiffs for their attorney fees, expenses and costs.

    ii. All other applicable relief available under the law, equities and facts of the case.

    The defendants named above are required to answer on or before the 29th day of November, 2019.

    Harry E. Figgie IV and Catherine E. Figgie.

    By Franklin C. Malemud, Esq., Joseph Simms, Esq., Timothy J. Gallagher, Esq. and Andrew Illig, Esq., Attorneys for Plaintiffs.

    Sep27Oct4-11-18-25Nov1, 2019

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