Texas High Court Case May Expand Duties Of Corporate Brass

Law360, Houston (February 21, 2013, 11:05 PM EST) -- Texas' highest court will consider Tuesday whether corporate directors should be required to help minority shareholders sell their stock, in a case some attorneys worry will impose new obligations on business leaders and create fertile ground for fraud claims arising out of such transactions.

When the Texas Supreme Court hears arguments in Ritchie v. Rupe, it will review a $7.3 million judgment in favor of a minority shareholder of a closely held business who says the company refused to meet with prospective buyers of her shares...
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