"The dispute turns on whether Skeels, by signing the 2014 resolution, agreed to allow the founders to redeem his shares on any terms and at any price they may choose. He did not," wrote Justice Phillip Devine.
June 26, 2023 at 06:43 PM
5 minute read
The Texas Supreme Court, ruling on a law firm’s shareholder dispute, poked holes in the firm founders’ argument that their articles of incorporation granted them unfettered authority to set share-redemption terms.
The majority opinion might behoove other law firms to review their share-redemption policies.
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