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A recent article in Law360 discussed an upcoming case that will be heard by the Texas Supreme Court. Arguments in Ritchie v. Rupe will begin on February 26 and will review a $7.3 million judgment in favor of a minority shareholder of a closely held business who says the company refused to meet with prospective buyers of her shares.
Sutherland Partner Kent C. Sullivan weighed in on the issue, saying, "Texas is consistently recognized as an incubator for business. It’s recognized by many as the most pro-business state in the country. The question of potential liability for officers and directors of closely held corporations is not at all insignificant."
To read the article in full, click here.