Investor Claims It Was Cheated Out of Stake in Energy Firm

Law360, New York (June 19, 2012, 9:57 PM EDT) -- Triton Investment Group LLC on Tuesday hit Texas Energy LLC with a suit in Texas state court alleging the petrochemical delivery company is cheating it out of its controlling stake in Gulf Coast Energy LLC through unauthorized stock transfers.

The suit alleges Triton and Gulf Coast CEO Michael Carvalho, who collectively own a 46.5 percent interest in Gulf Coast, were booted from the company's offices by minority shareholder Texas Energy immediately after Carvalho refused to approve a deal to obtain $10 million in financing.

As a...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.