The Texas Supreme Court let stand a $55 million arbitration award to a former director of an alternative investment company who was wrongfully ousted and stripped of his equity compensation.
RPWB attorneys Nina Fields Britt, Jim Bradley, and Caleb Hodge represented Sheldon Stein in an arbitration and subsequent appeals against The Beneficient Company Group LP.
The case stems from a three-day arbitration in 2019 that resulted in an award to Mr. Stein of over $55 million. That amount has since grown as a result of post-judgment interest.
The case was first appealed to a trial court that reversed the arbitration award. It was then appealed to the Fifth Circuit Court of Appeals, which upheld the arbitrator’s award. The Texas Supreme Court declined to take up the matter, leaving the judgment intact.
“This was a very complex business dispute that took a tremendous amount of time, resources and legal skill to bring to a successful resolution for Mr. Stein,” said Nina Fields Britt, managing attorney of Rogers, Patrick, Westbrook & Brickman. “We have felt all along that the arbitration produced a just result, and we are glad that the Fifth Circuit Court of Appeals and now the Texas Supreme Court agreed.”
The experienced legal team at Rogers, Patrick, Westbrook & Brickman LLC provides trusted guidance for its clients. Call us at 843-727-6500 or complete the online form to schedule a free case evaluation. We have offices in Charleston, Mt. Pleasant, Aiken, and Columbia, South Carolina, and we serve clients throughout the state.