Chicago Attorney Led Legal Effort in $725M Forced-Buyout Dispute
Litigation Attorney Rich Winter led the legal effort for Dr. Wayne Ryan, founder and leader of of Streck, a Nebraska-based biotech company. Dr. Ryan filed a two-count claim of shareholder oppression and breach of fiduciary duties in 2015 against his daughter and the CEO of Streck, Connie. The Nebraska judge determined a historic $725 million judgment, one of the largest valuation rulings in Nebraska's history and the second-largest forced buyout in the nation's history.
Mr. Winter commented, "Illinois has a similar provision in terms of the buyout, so the principles that we see here are applicable to Illinois cases and other cases around the country where there’s an oppression claim being made. This one was unique because of the fact that Dr. Ryan owned 52%, and it led to a very substantial result."
READ: Chicago Attorney Led Legal Effort in $725M Forced-Buyout Dispute (Subscription Required)