Steve Wingard and Steve McConnico Win Dismissal of Shareholder Derivative Case
Steve Wingard and Steve McConnico won a Motion to Dismiss for Lack of Standing and Plea to the Jurisdiction in favor of the general partner and limited partners of a family limited partnership. SDM defended a limited partnership, its general partner, and several individuals who owned limited partnership interest in lawsuit asserting breach of fiduciary duty. The plaintiff was the executor of the estate of a deceased limited partner who claimed the right to bring derivative claims on behalf of the limited partnership. The Court dismissed the lawsuit holding that the plaintiff lacked standing to bring his claims.