Marriage of Brigden
Court of Appeals of California
145 Cal. Rptr. 726 (1978)
Ann Brigden (plaintiff) and John Brigden (defendant) were married in 1953 and divorced in 1976. In 1961, John, along with others, formed the company of Logicon, Inc. (Logicon). Logicon became wildly successful, increasing in value from approximately $1,000 at the start of the company to a value well in the millions of dollars at the time of the divorce trial. Logicon became a publicly traded company on the stock exchange. The Logicon stock owned by Ann and John as community property was approximately 7.6 percent of the total stock of the company. John served as senior vice president of Logicon, and he was also a member of the board of directors. The trial court found that the quantity of Logicon stock owned influenced, but was not the critical factor, in John’s continued role in the direction and management of the company. The trial court awarded all of the Logicon stock to John, under the condition that he either purchase or release to Ann one-half of the shares on a set schedule of disbursements over the next four years. Ann appealed the trial court’s order.
Rule of Law
Holding and Reasoning (Cobey, J.)
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