Settlement Stock Mischaracterization Leads to Breach Claim

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On 4/23/25, in Nazaryan v. Femtometrix, the California Court of Appeal addressed a dispute over the tax characterization of settlement stock. The plaintiff alleged that the defendants breached the settlement agreement by issuing 1099-MISC forms treating the stock as non-employee compensation, contrary to the agreement's terms. The court found that the plaintiff sufficiently stated claims for breach of contract and violation of Internal Revenue Code section 7434.

https://www4.courts.ca.gov/opinions/documents/G061412M.PDF

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