Secret Franchise Stock Sale Fuels Partnership Dispute

Law360, Dallas (September 16, 2013, 9:54 PM EDT) -- Ravenwood Holdings LLC sued its partner in a restaurant franchise business Friday in Texas state court, claiming OTC Holdings LLC breached an agreement by selling off shares of the chain without telling Ravenwood and pocketing all proceeds from the sale.

Ravenwood says it collaborated with OTC Holdings to form on April 26 OTC Capital Partners LLC, a Colorado-based partnership that jointly owned stock for fast-casual restaurant franchise Grillit Inc., in anticipation of its acquisition on April 30 of an existing restaurant company called Health and Tasty...
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