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SOUTHEAST TEXAS RECORD

Thursday, March 28, 2024

Shareholders accuse corporation of denying fair share of stock

Law money 04

HOUSTON — Two shareholders are suing a consulting company, alleging tortious interference.

David Culbertson and Larry Cockman of Harris Count filed a complaint May 10 in Harris County Circuit Court against Global DCC Inc., doing business as Texas Security Shredding, et al, alleging the defendants attempted to divest shareholders of ownership interest in the corporation without paying the plaintiffs for their ownership interest.

According to the complaint, as shareholders in the defendants' company owning 240 shares of stock, Culbertson and Cockman received notice of a special meeting stating that the number of authorized shares from 1 million par value $1 to be exchanged to 500 existing shares for one new share. The plaintiffs say the special meeting is designed to strip them of their ownership interest in the corporation without compensating them. 

The plaintiffs allege the defendants refused to provide the plaintiffs their share of stock, removed the plaintiffs' ownership interest in the corporation without compensating them and denied the plaintiffs their right to pursue their motion to enter judgment and remove the special meeting notice.

Culbertson and Cockman seek trial by jury, a temporary restraining order from conducting the special meeting, temporary injunction on depriving ownership interest in the corporation, and all other equitable relief. They are represented by attorney Lennon C. Wright of Houston.

Harris County Circuit Court case number 2017-31600

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