Changes to Corporate Governance

Today’s topic focuses on recent changes to corporate governance under Texas Law, specifically the issues we will discuss today focus on what obligations, if any, in majority shareholder or a member in an LLC owes other members or shareholders in that business entity. We will focus on changes in the law and how this affects claims that used to exist in Texas for shareholder oppression and freeze outs. Joe a lot of our clients, a lot of business clients out there are concerned about a new decision by the Texas Supreme Ritchie versus Rupe that issued in June 2014. That decision materially altered corporate law landscape in Texas, specifically as it applied to major shareholder rights and minority shareholder rights and shareholder oppression.