Thompson & Knight Dodges $2.5M Shareholder Fraud Appeal

Law360, Houston (May 21, 2013, 7:40 PM EDT) -- A Texas appeals court declined Tuesday to revive a $2.5 million suit against Thompson & Knight LLP that alleged the firm helped a defunct home theater business transfer assets to a new venture and cut shareholders out of their investment in the company.

The Fourteenth District Court of Appeals rejected an argument by a pair of ClearMediaOne Inc. shareholders that the trial court should have applied Delaware law and awarded damages after a jury found that company assets should not have been used to start a...
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