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Patterson, PC resolves client’s bet-the-company lawsuit by co-founder

On Behalf of | Nov 9, 2023 | Firm News

What does “victory” look like in business litigation? Business owners who have never had to defend themselves against lawsuits might imagine dramatic courtroom battles leading to a favorable verdict. Most resolve through settlement. This case had both.

Patterson, PC recently tried a multi-million claim by a former partner against a Texas medical practice. The plaintiff sought damages of $3.8 million plus punitive damages and attorney fees. On the last day of trial Patterson, PC helped our client negotiate a favorable settlement.

Serious, high-stakes accusations

Patterson’s client operates a series of outpatient clinics in Texas, and the plaintiff was a former partner and co-founder. Other members of the practice bought him out in late 2018, and he claimed the buyout was far below the fair market value. He made several additional claims against the practice and its current owners:

  • Breach of fiduciary duty
  • Breach of contract
  • Fraud

Finding a path that works for your business

In the face of serious threat to the viability of your business, it’s critical that you find a reliable strategy. That strategy can vary with the nature of the claims, the nature of your business and your goals for the resolution. We look forward to helping you with bet the company litigation.