ALLEN v. DEVON ENERGY HOLDINGS, L.L.C.

No. 01-09-00643-CV.

ROBERT B. ALLEN, Appellant, v. DEVON ENERGY HOLDINGS, L.L.C. F/K/A CHIEF HOLDINGS, L.L.C. AND TREVOR REES-JONES, Appellees.

Court of Appeals of Texas, First District, Houston.

Opinion issued July 28, 2011.


OPINION

HARVEY BROWN, Justice.

This appeal is from a traditional summary judgment in a securities fraud lawsuit. The dispute arises out of the redemption of a minority interest owned by Robert Allen in a closely-held natural gas exploration and development company, Chief Holdings, LLC. Allen claims that Chief and Trevor Rees-Jones, Chief's manager and majority owner, fraudulently induced him to redeem his interest two years before the company sold for almost...

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