News & Analysis as of

Business Judgment Rule Closely Held Businesses

Farrell Fritz, P.C.

#MeToo and Business Divorce: The Flip Side

Farrell Fritz, P.C. on

Two years ago, Peter Mahler wrote about a dissolution lawsuit by a female minority shareholder alleging that her male co-shareholders condoned a pattern of sexually offensive and demeaning conduct by a senior co-worker, which...more

Freeman Law

The Business Judgment Rule in Texas

Freeman Law on

Corporate officers and directors owe a fiduciary duty to the corporation that they serve, and they can be held liable if they breach that fiduciary duty. Fiduciary duties are not codified in the Texas Business Organizations...more

Winstead PC

Breach of Fiduciary Duty Claims Against Trustees/Managers of Closely-Held Businesses - Presentation

Winstead PC on

David F. Johnson presented “Breach of Fiduciary Duty Claims Against Trustees/Managers of Closely-Held Businesses” with Kenneth J. Fair of Wright Close & Barger, LLP, on July 22, 2021, for Strafford Webinars to a national...more

Brooks Pierce

Problems To Avoid When Making A Meiselman Claim And/Or Filing A Derivative Action

Brooks Pierce on

The Business Court's Opinion last week in Coleman v. Coleman, 2015 NCBC 110, provides useful guidance on how to properly plead a Meiselman claim, and proper procedure to follow before making a derivative claim. Plaintiff...more

Gray Reed

Closely-Held Shareholder Derivative Actions are Alive and Well in Texas

Gray Reed on

After 30 years of running his family-owned business, Hillbilly Oil Co., Jed Clampett decided to retire in 2013. The board of directors elects Jethro Bodine as Hillbilly’s President and Elly May as Vice President. Both Jethro...more

Akin Gump Strauss Hauer & Feld LLP

The Texas Supreme Court Decision in Ritchie v. Rupe

On June 20, 2014, the Texas Supreme Court issued its opinion in Ritchie v. Rupe, 2014 Tex. LEXIS 500 (Tex. 2014). In Ritchie, a minority shareholder in a closely held corporation attempted to force the majority shareholders...more

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