Counsel for plaintiffs in a case brought in Travis County District Court by persons who owned shares of stock in a privately held Internet banking service provider. The plaintiffs sought damages and disgorgement of profits arising from a merger in which the shares of common stock were cancelled, and the merger proceeds ($134,000,000) were split only among the preferred shareholders and management. The case settled in early 2009, following the court’s denial of several motions for summary judgment.
