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BIG WINS IN THE TEXAS SUPREME COURT

The complete victory Carrington Coleman obtained for its client in Shagrithaya v. ARGO and Martin, one of the more significant shareholder oppression cases in Texas jurisprudence (view original story) is now final. The Texas Supreme Court declined to review the court of appeals decision that reversed the trial court’s order mandating a $90 million dividend, holding that ARGO and Carrington Coleman’s client, CEO Max Martin, had not oppressed or otherwise harmed ARGO’s other shareholder, who held a minority position.

Completing the trilogy, the Supreme Court also granted a petition for review filed by Carrington Coleman in Cardiac Perfusion Services and Joubran v. Hughes, reversing the trial and appellate courts and remanding the case to the trial court for further proceedings. The principles controlling future shareholder oppression claims have now been clarified by the Supreme Court’s Ritchie v. Rupe decision.

For more information on the two cases, please visit Sua Sponte, the Carrington Coleman appellate blog.

 

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