Broussard Obtains Derivative Action Judgment
Travis J. Broussard and Steven G. "Buzz" Durio recently obtained a jury verdict for almost $200,000 on behalf of a closely held family corporation in a derivative action for recovery of insurance premiums that were unfairly paid, and rents which were unpaid, by the self-dealing corporate officers as defendants in a suit entitled "Duhon vs. 3-D Sugar Farms", filed in the 15th Judicial District Court, Lafayette Parish, Docket Number 2010-6219-L. "The judgment will undoubtedly be appealed," said Broussard, "but will be defended successfully. On appeal we will also try to obtain the reversal of summary judgment against our client's claim for withdrawal from the corporation due to oppression." Withdrawal due to oppression is a new remedy under the Louisiana Business Corporation Act (LBCA) which became effective January 1, 2015. According to Durio, "Travis did an excellent job, especially in closing, and we should also prevail on several other claims on appeal." Broussard and Durio specialize in several areas, including claims under the LBCA.