Texas High Court Nixes Suit Over $25M Plastics Co. Sale

Law360, New York (November 22, 2013, 4:40 PM EST) -- The Texas Supreme Court refused Friday to weigh in on a family dispute over the sale of Pescor Plastics Inc., declining to review a decision finding that the company's majority shareholders had no fiduciary duty to their brother when they sold Pescor to Berry Plastics Corp. for $25 million.

The Supreme Court denied a petition by former minority owner Kelly Kilpatrick, who sought review of a July ruling by the Second District Court of Appeals finding that his brothers did not owe him fiduciary duty over...
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