Law360, Dallas (August 30, 2012, 7:33 PM ET) -- A Texas appellate court on Wednesday struck down an $88 million judgment against Argo Data Resource Corp., holding there was not enough evidence to support a jury finding of shareholder oppression against the company’s co-founder.
Balkrishna Shagrithaya, who owns 47 percent of the private software company, won a judgment after a six-week jury trial in Dallas County district court that would have forced the company to issue an $85 million dividend and pay him $2 million in back compensation plus $1.3 million for a fraud claim,...
$88M Verdict Tossed In Shareholder Oppression Suit
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