Rupe v. Ritchie
A Case of Minority Shareholder Oppression
Ann Caldwell Rupe was married to a man from a well-to-do family for more than 20 years. His family never fully accepted her. When he died, she was left with his trust, “Buddy’s Trust,” which held a substantial amount of stock in the family’s privately held company, Rupe Investment Corp.
She wanted to sell her stock back to the company. Company directors low-balled her. Then, when she tried to sell her shares to other prospective buyers, the company refused to meet with them. That meant, in effect, that she would find no buyer for her stock.
Representation from the Dallas Attorneys at Aldous \ Walker Made a Difference
Minority shareholders are always at the mercy of the majority. But they deserve at least some rights and they should have some way of selling their stock. Ann Rupe sued the directors of her husband’s family’s business, seeking justice and a fair price. A Dallas jury agreed that Mrs. Rupe was an “oppressed” shareholder and that she deserved several times the amount the company offered for her stock. A state appeals court agreed.
The directors of Rupe Investment have appealed the case to the Supreme Court of Texas. The resultant ruling could change the way minority shareholders are treated in Texas. Our team at Aldous \ Walker is proud to be part of this important case. Our Dallas trial lawyers are passionate about the work we do, and passionate about serving our customers.