Article
The Texas Supreme Court Clarifies Limits Of Shareholder Capacity In Fiduciary Duty Claims Against Corporate Advisors
The Supreme Court of Texas, in In re UMTH General Services, L.P. et al.,[1] held that claims against a third party advisor for breaches of fiduciary duty to an entity and its shareholders were claims of the entity, and that shareholders could only bring derivative, and not direct, claims.
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