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MN Supreme Court Upholds Judgement Against MICO

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Minnesota's Supreme Court upheld a lower court decision awarding a brother pushed out of the MICO business 21.8 million dollars. According to court records, brothers Brent and Dan McGrath were supposed to run the company together once their father passed away. Dan McGrath claims his brother forced him out of the company by first demoting him, putting him on administrative leave, and then cutting him off from his executive bonus and profit sharing.

The Minnesota Court of Appeals ruled the company purchase Dan's shares of the company for 11.5 million dollars. Combining compensatory and punitive damages including 2.8 million dollars in attorneys fees, his total award was just under 22 million dollars.