Business Dispute Litigation

Represented the defendant in a complex shareholder action. The client was an officer and director of a Gibraltar corporation. The plaintiff, a public oil and gas company which owned shares in the corpporation, alleged certain transgressions in connection with the sale of a corporate asset, and sought actual and punitive damages. After discovery and mediation, the plaintiff corporation (1) released Mr. Kelly’s client for no payment; (2) dismissed the litigation with prejudice; and (3) paid Mr. Kelly’s attorneys fees.

Represented an energy company in a securities claim under Delaware law brought by a shareholder. The plaintiff contended that it had been damaged by the client’s failure to timely secure an effective registration of the company’s stock. The Court of Appeals rendered judgement in favor of Mr. Kelly’s client, holding that the shareholder’s cause of action had been effectively deleted by an amendment to the shareholder’s stock purchase agreement.

Reported: 2008 WL 2170832 (Tex. App. - Dallas - May 27, 2008)

Represented a drilling motor manufacturing company and its majority shareholder in litigation against the company’s minority shareholders and directors alleging breach of fiduciary duty, usurpation of corporate opportunity, conversion and business defamation. The company and majority shareholder’s claims were favorably settled on a confidential basis prior to trial. After the settlement, the shareholder sold one hundred per cent of the company stock to a national company.