Thorson, J. v. EDDW, LLC

2024 Pa. Super. 6, 309 A.3d 152
CourtSuperior Court of Pennsylvania
DecidedJanuary 16, 2024
Docket3059 EDA 2022
StatusPublished

This text of 2024 Pa. Super. 6 (Thorson, J. v. EDDW, LLC) is published on Counsel Stack Legal Research, covering Superior Court of Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Thorson, J. v. EDDW, LLC, 2024 Pa. Super. 6, 309 A.3d 152 (Pa. Ct. App. 2024).

Opinion

J-A19017-23

2024 PA Super 6

JONATHAN THORSON AND GRACE : IN THE SUPERIOR COURT OF SONG : PENNSYLVANIA : : v. : : : EDDW, LLC, BDDW DESIGN, LLC, : BDDW STUDIO, LLC, M. CROW, LLC : No. 3059 EDA 2022 AND TYLER HAYS AND JACK : SHELTON, GARRETT MCGLOTHLIN : AND ERIC ANDERSON : : : APPEAL OF: EDDW, LLC, BDDW : DESIGN, LLC, BDDW STUDIO, LLC, : M. CROW, LLC AND TYLER HAYS :

Appeal from the Judgment Entered January 18, 2023 In the Court of Common Pleas of Philadelphia County Civil Division at No: 190301451

BEFORE: BOWES, J., STABILE, J., and PELLEGRINI, J.*

OPINION BY STABILE, J.: FILED JANUARY 16, 2024

This appeal involves an employment contract dispute in which EDDW,

LLC; BDDW Design, LLC; BDDW Studio, LLC; M. Crow, LLC; and Tyler Hays

(Appellants) seek review of a non-jury verdict by the Court of Common Pleas

of Philadelphia County (trial court) awarding monetary damages to Jonathan

Thorson and Grace Song (Appellees). Appellants argue that they were given

insufficient notice of the trial date, causing the unavailability of Hays, and as

a result, the trial court improperly inferred that his testimony would have been

unfavorable to Appellants. They contend further that the trial court

____________________________________________

* Retired Senior Judge assigned to the Superior Court. J-A19017-23

erroneously determined Appellees’ damages by relying on an unqualified

expert’s valuation of their business. We affirm.

BDDW is a luxury home furnishing company founded by Hays in 1995.

Since that time, BDDW has been owned and controlled by Hays; he also has

been the lead designer of all its products. The corporate entities named as

Appellants in this case are, in turn, wholly owned subsidiaries of BDDW, and

Hays is the sole member of those entities. BDDW’s retail showroom is located

in New York City, but it also has maintained offices and manufacturing centers

in Philadelphia.

The company’s size and revenues increased substantially after 1995,

and by 2009, Hays began asking his most valuable employees if they would

make long-term commitments in exchange for equity in BDDW. There is no

dispute that these offers of partnership were made to Appellees.

Song had worked for BDDW since 2005, and she was named president

of the company in 2012. In this role, Song managed BDDW’s finances and its

human resources department. She also oversaw all its day-to-day operations,

and her authority was second only to Hays himself. See N.T. Trial, 05/03/22,

at 36, 57-60.

According to Song, Hays approached her in 2009 with an offer to make

her a partner and give her 3% of the fair market value of BDDW if she would

continue as president for another five years. See id., at 65-67. Song

accepted the offer, but there were no witnesses to the agreement, and the

terms were never reduced to writing. See id., at 113-14. Hays told her that

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he would hire a third party to ascertain the value of BDDW so that her 3%

share could be determined from that amount.

Song’s employment with BDDW ended in 2018. Hays alleged that she

had been intoxicated at several company events, including large gatherings

attended by clients. After one such event, an auction, Hays placed Song on

leave for 30 days and blocked her from accessing the company’s bank

accounts and email, which Song had been managing for several years. But

when the leave period ended and Song went back to work, Hays immediately

terminated her employment. Hays insisted that Song’s termination for cause

nullified the verbal employment contract and divested her of partnership

equity. Song disputed that interpretation of her contract terms, as she did

not recall ever being told that her stake in the company could be rescinded in

that manner. See id., at 29-30, 149-50.

Thorson’s circumstances were similar to Song’s in several respects. He

had been with the company since 2004, and Hays put him charge of BDDW’s

sales and customer relations. The annual revenue of the company increased

from hundreds of thousands to tens of millions during Thorson’s tenure. As

with Song, there was no written employment agreement between Thorson and

Hays.

Thorson had instead verbally agreed in 2009 that if he remained with

the company for five more years, he would receive a vested interest in BDDW

equivalent to 2% of its fair market value, which was to be later determined

by a third-party valuation. Thorson understood that once his partnership

-3- J-A19017-23

vested, he would have the right to redeem all or part of his share as a cash

withdrawal. This was an appealing option to Thorson because he viewed the

accrual of equity in the company as a substitute for the security of a 401k

retirement plan, which BDDW did not offer. Id., at 203-04.

In 2014, after Thorson’s interest had vested, he attempted to withdraw

funds from BDDW so that he could diversify his assets and purchase a house

in New York City for his growing family. Hays refused to disperse the funds.

Id., at 206. Thorson, Song, and other partners broached the subject again

with Hays in 2017, suggesting that their employment contracts should be put

in writing. Hays refused. Id., at 210-11.

About a year after that, Thorson accepted a position with a different

company and negotiated a starting date beginning three months later. When

he informed Hays that he was leaving BDDW, Hays claimed that Thorson was

not entitled to his partnership equity because he had failed to provide Hays

with one full year of notice of his resignation date. Id., at 218. Thorson

denied that giving a year of notice was ever a condition of his employment,

much less that breaching such a condition would result in the loss of his equity

in BDDW.

Appellees filed a complaint, and later an amended complaint, alleging

that Hays, BDDW, and associated entities breached their verbal employment

contracts by depriving them of their partnership equity. They also sought

-4- J-A19017-23

recovery of lost wages and a declaratory judgment recognizing the validity of

their contacts.1

To prove the value of BDDW, and by extension, their money damages

flowing from the breach of their contracts, Appellees retained Eugene E. Urcan

to serve as their valuation expert. At trial, Urcan discussed his professional

background and qualifications in the fields of investment banking and

valuation services. Although Urcan’s academic degrees were in biology and

public policy, he held licenses concerning investment banking and the sale of

corporate securities; he also had been approved by two state bars to teach

valuation courses that would be eligible for CLE credit.

Urcan estimated that he had done about 100 valuations in the prior

three years, and over 1,000 total valuations in his career. These valuations

were exclusively of private companies, spanning a wide range of industries.

About 30% of Urcan’s work related to valuations, and the other 70% related

to mergers and acquisitions. See N.T. Trial, 05/06/2022, at 35-39.

Urcan testified at length about the methodology he applied for BDDW’s

valuation. He began by focusing on the company’s tax returns and financial

statements dating from 2013 to 2018. By adding together BDDW’s total

revenue and cash on hand from 2017 and 2018, Urcan calculated its initial

“enterprise value” to be $17,286,262.

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