Effort to split professional titles nixed

Trial Notebook

By Steven P. Garmisa

Hoey & Farina

Posted February 4, 2019 8:53 AM

Although Robert Mitchell paid $149,500 for an 11.5 percent interest in Stonecasters LLC, Joseph Modica & Associates Ltd. — hired as a valuation analyst after Stonecasters fired Mitchell, triggering a provision in his employment agreement that obligated the firm to repurchase his shares for fair market value — reportedly concluded that his minority stake was only worth $13,000.Suing Modica for alleged professional negligence, Mitchell relied on the five-year catchall statute of limitations. 735 ILCS 5/13 …

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