Texas Justices Revive Stock Buyout Row In Light Of Drennen

Law360, Houston (February 28, 2014, 5:37 PM EST) -- The Texas Supreme Court on Friday reinstated a cardiovascular clinic’s bid to defeat a former co-owner’s $1 million judgment in a dispute over restrictions in a stock buyout agreement, while they consider in a pending case whether such provisions qualify as covenants not to compete.

In a rare move, the high court granted a motion for rehearing filed by Nacogdoches Heart Clinic, in which the clinic argued that its case should be reviewed in light of the court’s anticipated decision regarding the validity of a similar...
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