Lee C. Ritchie, Petitioners v. Ann Caldwell Rupe, as Trustee for the Dallas Gordon Rupe, Iii 1995 Family…

Summary

The Texas Supreme Court reversed the Court of Appeals, holding that the directors' refusal to meet with prospective buyers does not constitute "oppressive" conduct under the receivership statute and that the statute authorizes only the appointment of a rehabilitative receiver, not a buy‑out. The Court also declined to create a common‑law cause of action for minority shareholder oppression and remanded for further proceedings on the breach‑of‑fiduciary‑duty claim. Justice GUZMAN dissented.