Texas High Court Eyes Limits Of Shareholder Oppression Suits

Law360, Houston (February 26, 2013, 4:46 PM EST) -- A closely held investment company on Tuesday told Texas’ highest court that it need not help a minority shareholder sell her stock while risking securities fraud claims and that a lower court’s order forcing it to buy the shares is not allowed under state law.

Robert G. Gilbreath of Hawkins Parnell Thackston & Young LLP argued to the Texas Supreme Court that Rupe Investment Corp.’s refusal to meet with potential buyers of Ann Caldwell Rupe’s shares because of concerns about securities fraud risks did not amount...
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