The challenge for Diamond McCarthy's trial team was considerable. How do you convince a jury that a shareholder who received almost $12 million in dividends is "oppressed"? The attorney who led the team for Balkrishna Shagrithaya, the co-founder and minority shareholder of ARGO Data Resource Corp., said the firm argued that he was oppressed because the sum represented only 7 percent of the company's total retained earnings. The jury sided with Shagrithaya, though they didn't give him everything he asked for.
October 28, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Correction: An earlier version of this story incorrectly identified the CEO of ARGO as Max Masters. He is Max Martin. We also incorrectly reported the jury’s award of attorney’s fees. The correct amount is $560,000. We regret the errors.
The challenge for Diamond McCarthy‘s trial team was considerable. How do you convince a Texas state court jury that a shareholder who received almost $12 million in dividends last December is “oppressed”?
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