Texas High Court To Hear $23M Share Dilution Dispute

Law360, Houston (December 2, 2016, 8:03 PM EST) -- The Texas Supreme Court on Friday agreed to hear a $23 million dispute between IDev Technologies shareholders and co-shareholder RiverVest Venture Fund I LP over alleged dilution of shares.

In September 2015, a lower appellate court reversed the trial court and sided with IDev shareholders Jeffrey Sheldon and Andras Konya over RiverVest Venture Fund, holding that a clause in the shareholder agreement between them selecting Delaware as the forum for disputes didn't apply because the claims were brought under general laws, and not the specific agreement.

In a January petition for review, RiverVest argued that the Fourteenth Court of Appeals' interpretation...

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