Hollis v. Hill

POLITZ, Circuit Judge:

James P. Hollis seeks a court-ordered buy-out of his 50% interest in a Nevada corporation. The district court found that Dan Hill, holder of the other 50% interest, breached the fiduciary duty he owed to Hollis and ordered a buy-out of Hollis’ shares based on the corporation’s value more than one year prior to the date of judgment. Hill timely appeals. For the reasons assigned, we affirm in part and vacate and remand in part.

*463BACKGROUND

In early 1995, Hill and Hollis jointly founded First Financial USA, Inc. (FFU-SA), a Nevada corporation which marketed first lien mortgage…