Davis v. Sheerin
Court of Appeals of Texas
754 S.W.2d 375 (1988)
Relevant factsFree
Davis (defendant), who claimed Sheerin (plaintiff) had gifted him his 45% stock interest decades earlier, denied Sheerin access to corporate books unless Sheerin could produce a stock certificate; a jury found Davis conspired to deprive Sheerin of his stock interest, and the trial court, finding oppressive conduct, ordered Davis to buy out Sheerin's 45% interest at the jury-determined fair value of $550,000. Davis appealed, arguing Texas law didn't recognize a buy-out remedy and that the facts didn't support one here.
IssueFree
Whether a buy-out is an appropriate remedy for oppressive acts.