The Supreme Court of Texas held that a limited partner had standing to sue for alleged loss in the value of its interest in the partnership, but reversed a damages award in favor of that limited partner for insufficient evidence. Pike v. Texas EMC Management, LLC, Case No. 17-0557 (Tex. June 19, 2020) (Busby, J) (Bland, J, dissenting).
Texas EMC Products (the partnership) was formed between investors (Wilson and Walker, both individually and through Walker’s company Few Ready Mix) and a Dutch company, EMC Cement BV, which held technology in “energetically modified cement.” Texas EMC Management, LLC, was the general partner. EMC Cement BV, Wilson and Walker were all limited partners with minority shares. The partnership established an EMC plant in Texas. Pike was hired as general manager of Texas EMC Management and the plant.
