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Litigation | 12 Months Ended
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Mar. 31, 2015
Litigation [Abstract] |
Litigation | 20. Litigation There have been and may be additional claims filed against the Company by the trustee and some or all of the creditors in connection with the bankruptcy proceedings involving the Fenco Entities. In February 2015, M&T Bank filed a complaint in the Superior Court for the State of California, County of Los Angeles, against the Company and some of its executives alleging negligent misrepresentation, tortious interference with contractual relationship, conspiracy, unjust enrichment, conversion, declaratory judgment/alter ego, breach of contract and breach of the covenant of good faith and fair dealing. The plaintiff is seeking unspecified damages, punitive damages, attorneys’ fees and other relief. In addition, the trustee has notified the Company and its insurance companies that the trustee may have claims for wrongful acts, breach of fiduciary duty, civil conspiracy, aiding and abetting, negligence and conversion, but has not filed any litigation at this time. The Company is also a defendant in the following cases: one in Ontario Superior Court and another in the Bankruptcy Court for the District of Delaware. In each case the plaintiffs’ claim that the Company is liable for amounts due from the Fenco Entities to their employees under applicable U.S. and Canadian law. The Company is in negotiations with respect to these cases, although there can be no assurance whether the cases will settle and, if they settle, on what terms. In this connection, the Company has established a reserve of $1,000,000, which has been incorporated into the financial statements for the fiscal year ended March 31, 2015. Any litigation to determine the validity of these claims involving the Fenco Entities, regardless of its merit or resolution, may be costly and time consuming and divert the efforts and attention of the Company’s management from its business strategy. Any adverse judgment or settlement by the Company of these claims could also result in significant additional expense. The Company is also subject to various other lawsuits and claims in the normal course of business. Management does not believe that the outcome of these other matters will have a material adverse effect on its financial position or future results of operations.

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