Texas Supreme Court
Dennis L. Miga, Petitioner v. Ronald L. Jensen, Respondent
October 31, 200246 Tex. Sup. Ct. J. 89
Summary
The Texas Supreme Court held that the proper measure of damages for a breached stock‑option contract is the option’s value at the time of breach, awarded $1,034,400 plus simple pre‑judgment interest and compounded post‑judgment interest, and that Jensen’s payment of the judgment did not moot his appeal. The Court affirmed the fraud and exemplary‑damage findings, reversed the appellate court’s damages award, and remanded for calculation of interest. Justice O’NEILL and Justice SCHNEIDER dissented, arguing the payment should moot the appeal and that a higher‑value damages measure is appropriate.