Battery Co. Shareholder Claims Family Swayed Stock Award

Law360, Dallas (September 12, 2016, 6:52 PM EDT) -- A Universal Power Group Inc. shareholder has sued the company in Texas state court alleging it unlawfully formed a compensation committee that awarded three executives more than $1 million in stock and gave the trio, who are related, a majority controlling interest.

Plaintiff Ryan Schaper, who says he owns 13 percent of UPG's stock, wants an injunction barring the company from appointing an alleged classified board of directors and voiding decisions made by the alleged board, including the stock grant. The suit, filed in Dallas County District Court on Sept. 8, claims the company was underperforming against peers and failed to...

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