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Full-Text Articles in Law
Texas Annual Survey: Securities Regulation, George Lee Flint Jr
Texas Annual Survey: Securities Regulation, George Lee Flint Jr
Faculty Articles
Securities law opinions under Texas law during this period can be divided into two groups. The first group deals with various fraudulent schemes targeted by the Board. The "free lunch" scam, aimed at senior investors, surfaced in Head v. State where the scammer lost the appeal because the evidence clearly confirmed his failure to inform investors. In Navarro v. Grant Thornton, LLP investors failed in their aiding and abetting lawsuit against the accountants because, absent contact between the accountants and investors, the accountants had no duty to whistleblow to regulators or investors.
The second group involves incompetent lawyers. In S&D …
Limited Partnership Status And The Imposition Of Fiduciary Duties In Texas, Colin P. Marks
Limited Partnership Status And The Imposition Of Fiduciary Duties In Texas, Colin P. Marks
Faculty Articles
To avoid liability, many investors in a partnership opt for the structure of a limited partnership. This structure insulates the limited partners from liability by creating a two-tier structure with a general partner and limited partners. The limited partners are at risk of losing only their investment so long as they are not acting as general partners.
Despite the popularity of the limited partnership structure, though, it remains unclear what duties are owed between the various partners. In a general partnership, all partners are fiduciaries to each other. The statutes governing limited partnerships make clear that general partners in a …