News, Events, and Case Developments at Fryar Law Firm, P.C. -- A Houston, Texas law firm dedicated to protecting the rights of shareholders and business owners and fighting shareholder oppression.
Tuesday, March 15, 2011
Fryar Law Firm Defeats Motion for Sanctions
Fryar Law Firm is not afraid to advance novel legal theories. Following the successful settlement of Fiongos v. Cahaba, Austin attorney Fred Coogan pursued a motion for sanctions for frivolous lawsuit against Fryar Law Firm based on the claims that had been asserted against his clients Heep Petroleum, Inc. and Buda Resources, Inc.-owned by Austin businessman Boone Heep. These defendants had been sued on the theory of knowing participation in a breach of fiduciary duties. In a hearing on their motion on March 14, 2010, the 55th Judicial District Court, Harris County, Texas, ruled from the bench that Fryar Law Firm's briefing of the law was correct and summarily denied Coogan's and Heep's motion for sanctions. See Fryar Law Firms Brief on the Sanctions Motion. Eric Fryar had offered to settle the sanctions motion for the cost of a tank of gas to get Coogan and Heep back to Austin. They should have taken that deal.