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Texas Bank Countersues Consultants For $10.5M Stock Buy

Law360 (July 6, 2018, 6:18 PM EDT) -- A Texas bank facing allegations of flubbing a $10.5 million stock purchase for a consulting firm's benefit plan hit the firm with a countersuit Thursday, telling a Texas federal judge the firm and several associated individuals and entities should help the bank pay any monetary judgment that is assessed.

In the countersuit, Lubbock National Bank said TBM Consulting Group Inc., its board of directors and two companies should be held liable for an alleged overvaluation of stock shares that led to a questionable $10.5 million stock...
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Case Information

Case Title

TBM Consulting Group, Inc. et al v. Lubbock National Bank

Case Number



North Carolina Eastern

Nature of Suit

Labor: E.R.I.S.A.


Louise Wood Flanagan

Date Filed

September 11, 2017

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