In Cause No. 2023-43912; Raymond Matthew Stone, et al. v. Randy Strope, et at.; In the 270th Judicial District Court, Harris County, Texas, Buck Keenan partners Mano DeAyala and Andrew Wright obtained a favorable comprehensive settlement for the firm’s clients/Plaintiffs whose families were founders of a multigenerational concrete company located in Houston. At issue was whether Defendants who were in control of the company had controlling ownership interest in the company, had rights to board composition, were in compliance with corporate governance and committed various business torts. On behalf of our clients, we asserted claims for breach of fiduciary duties both individually and derivatively as shareholders against Defendants – the company’s then President and board member. After taking the President’s deposition, the board was able to remove him from office. Soon after, the case settled resulting in Defendants relinquishment of all positions and ownership interest in the Company.
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