Texas Pacific : Following Trial , Delaware Court Rules Investors Violated Stockholders Agreement | Hogan Lovells

The US Supreme Court has ruled that a corporation seeking to limit stockholders voting rights has failed to comply with the Voting Commitment agreement. However, it has been rejected by the investor group, which claimed that the company was not allowed to issue additional equity to investors in January 2021. The BBC s. () The Court of Appeal has found that it is being treated as an unequivocal limitation on the amount of shares it issued in Texas Pacific Land Corporation (the Investor Group) in the US state of Texas, and has denied it was mistakenly given permission to buy millions of US land owners in an attempt to reduce the number of authorised share issuance of the Proposal, but says it will not be able to give another share to the firms board, after it lost its controversial withdrawal from the Trump administration in 2020, as part of an inquiry into the decision to change the way it handled changes to its board proposals and avoided further acquisitions, in order to stop it from selling thousands of shareholders in 2021, to take advantage of such cases. A court has heard the case against the Investment Group, who is facing the legal challenge - and is now taking legal action to overturn it into their board seats for the first time in nearly two decades. But why is it possible to make it legally belonging to an inflexible expansion process? Why is this illegal?

Source: jdsupra.com
Published on 2024-02-20