This post is the third in a series of posts analyzing the 2013-14 term of the Wisconsin Supreme Court. For our previous posts click here and here.
This post provides in a nutshell what businesses need to know about the cases from last year’s term of the Wisconsin Supreme Court.
We already have written about a number of the key business-related cases on our blog:
In Data Key Partners v. Permira Advisors LLC, the court adopted the federal courts’ heightened pleading standard from Twombly and reaffirmed the importance of the business-judgment rule in shareholder litigation. (Post here.)
In Dow Family, LLC v. PHH Mortgage Corp., the court declared that the equitable-assignment doctrine is alive and well, and it held that the doctrine applied to the widely used (and controversial) electronic mortgage-registration system, more commonly known as MERS. (Posts here and here.)
In Associated Bank N.A. v. Collier, the court effectively overruled In re Badger Lines, Inc. and limited the lien that attaches in supplementary proceedings under Wis. Stat. ch. 816. (Post here.)
In Kimble v. Land Concepts, Inc., the court used its discretionary reversal power to reverse an award of punitive damages, holding that the award was unconstitutional. A statutory limit on punitive damages exists now, found in Wis. Stat. § 895.043(6). But if that statute is ever repealed, the court’s constitutional analysis in Kimble will substantially limit the availability of punitive damages in Wisconsin. (Post here.)
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