Exxon Mobil Corp. v. Fenelon

OPINION

CLELAND, District Judge.

This case arose out of the sale of ComAlloy International Corporation (“ComAlloy”), which Defendants/Appellees/Cross-Appellants Paul J. Fenelon and Ronald M. Sohr sold to Plaintiff/Appellant/ Cross-Appellee Exxon Mobil Corporation (“Exxon”). Plaintiff purchased ComAlloy in two stages. First, in December of 1986, Exxon acquired a minority interest (19%) of ComAlloy plus an option to purchase the remainder of ComAlloy’s stock within five years. Thereafter, Exxon exercised that option by purchasing the remainder of ComAlloy’s stock in February of 1991.

Exxon brought…