by Staff of the Firm | Sep 24, 2015 | Minority Shareholders, Texas Law Update, Uncategorized
Double-Derivative Action. The court next addressed whether Webre, a shareholder of the parent corporation, could bring a derivative suit on behalf of the wholly owned subsidiary. The court noted that “[i]n a ‘double derivative’ action, the shareholder is effectively...
by Staff of the Firm | Sep 17, 2015 | Minority Shareholders, Texas Law Update, Uncategorized
Business Judgment Rule. The court first addressed whether the business judgment rule, which, among other things, protects the board of directors’ decision to pursue or forgo corporate causes of action, applies to closely held corporations so as to bar Webre’s...
by Staff of the Firm | Sep 8, 2015 | Minority Shareholders, Texas Law Update, Uncategorized
Sneed v. Webre. In our previous blog post on Ritchie v. Rupe (available here), we discussed the rights of Texas minority shareholders in a closely held corporation in the context of shareholder oppression. Closely held corporations and many small companies whose...
