Texas High Court Will Hear Investor Suit Over Plant Buy

Law360, New York (March 24, 2014, 1:39 PM EDT) -- The Texas Supreme Court said Friday that it will hear arguments in a so-called double derivative action brought by a board member of mining company United Salt Corp. against company officers over alleged problems with a plant acquisition.

In July 2011, the First District Court of Appeals overturned a trial court's decision that dismissed for lack of standing the double derivative action brought by board member Lloyd Webre Jr., who owns 24 percent of United Salt's parent company, finding that Webre is effectively an owner of...
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