Texas Justices Nix Part Of $23M Shareholder Dilution Row
Law360, Houston (May 19, 2017, 3:52 PM EDT) -- The Texas Supreme Court on Friday reversed a court of appeals judgment in a suit brought by two IDev Technologies minority shareholders alleging various venture-capital shareholders in IDev diluted their shares that should have been worth $23 million, holding the investors were correct that a forum selection clause mandates the claims be brought in Delaware.
In September 2015, a lower appellate court reversed a trial court's ruling and sided with shareholders Jeffrey Sheldon and Andras Konya, 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...
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