In the first contested final judgment under the new Texas Business Court system, an LPHS team helped secure a favorable ruling that resolves a dispute brought against Primexx Energy Corp. by minority investors in the company. The plaintiffs alleged breach of contract and fiduciary duty claims associated with a $788 million sale of an affiliate oil and gas business by Primexx. Under a Rule 11 agreement, all remaining claims that survived an earlier summary judgment were dismissed and the court entered a take-nothing order to the investors.

“We’ve come full circle in this case, which was the first time oral arguments on a dispositive motion was heard under the new system last year and now the first time a final judgment has been entered,” says LPHS senior associate Yaman Desai.

“It was a valuable experience for all of us to be at the forefront of this system that was created as a way for parties to gain expedited decisions in business disputes,” says LPHS partner Chris Patton. “The fact that we have a final judgment just eight months after the case was filed seems to support that goal.” 

Along with Chris and Yaman, other members of the trial team included Jessie Cox and Kyle Gardner.