Miga v. Jensen

To reward Dennis Miga for work he had done, Ronald Jensen offered him the option to buy a portion of Jensen’s stock in a privately-held corporation. When Miga tried to exercise the option, Jensen refused to honor their agreement, and Miga sued. Before trial, the corporation “went public.” The primary issue in this appeal is how to properly measure the damages caused by Jensen’s failure to deliver the stock under the option’s terms. The trial court and court of appeals concluded that Miga could recover damages measured by the subsequent appreciated value of the stock. Because we conclude that…