Parent Company Wins Dismissal Of 3 Claims In Suit Over Tax-Sharing Agreement

Mealey's (January 24, 2023, 11:40 AM EST) -- RALEIGH, N.C. — Granting dismissal of three claims in a dispute over a tax-sharing agreement (TSA), a North Carolina federal judge ruled Jan. 23 that North Carolina’s economic loss rule bars the conversion claim, that civil liability under the state’s criminal embezzlement statute does not extend to corporations and that the allegations cannot support the unfair and deceptive trade practices claim....