Cantey Hanger LLP obtained a summary judgment victory on September 14, 2017 on behalf of its client, a 50% shareholder who brought suit against the company after it failed to make any distributions for profits to which the shareholder was entitled. The lawsuit alleged breach of contract and requested an accounting and inspection of the corporation’s financial records. Despite the corporation’s refusal to comply with a court order to provide financial records for inspection, a Tarrant County district judge granted a motion for summary judgment filed by Cantey Hanger on the shareholder’s behalf. The Court ruled that the shareholder was entitled to one-half of the reported profits of the corporation as evidenced by the corporation’s tax returns and awarded the shareholder all claimed damages, as well as her attorney’s fees.
Cantey Hanger Secures Summary Judgment Victory Enforcing Shareholder Agreement
Posted On September 15, 2017