David Fowler Johnson, in his Texas Fiduciary Litigator Blog, discusses Rex Performance Prods., LLC v. Tate.
A business divorce may mean that the owners need to sell the business or the business’s assets. In the following case, some of the owners/officers took advantage of a sale transaction to benefit from that transaction at the expense of their co-owners. In Rex Performance Prods., LLC v. Tate, a company sued its former officers for breaching fiduciary duties related to the sale of the company’s assets.
To download the full opinion, click here: Rex Performance Prods., LLC v. Tate.
To read the full article, click here: “Texas Fiduciary Litigator: Business Divorce: Court Found That There Was A Fact Question On Whether Officers Violated Fiduciary Duties By Obtaining A Side Bonus From A Purchaser When Negotiating A Sale Of The Company’s Assets”
Posted by Elise Kim, Managing Associate Editor, Wealth Strategies Journal.