Stone Pigman Secures Reinstatement of Brennan's Inc.'s Former Management
Stone Pigman represent Ted Brennan and Bridget Brennan Tyrrell, shareholders and former officers and directors of Brennan's Inc., which operated the iconic New Orleans restaurant Brennan's, in their management dispute with a former shareholder of the corporation.
The firm’s clients had been removed from management of the corporation as a result of a ruling of the United States District Court for the Eastern District of Louisiana. In that judgment, the federal court had ordered that a shareholders’ meeting be held at which the former shareholder was permitted to vote, resulting in the ouster of the firm's clients from management of the corporation.
After Stone Pigman attorneys obtained an expedited appeal of the adverse judgment, on December 12, 2013, the United States Fifth Circuit Court of Appeals vacated the district court judgment. The appellate court concluded that the former shareholder had sold his shares in the company and therefore had no authority to request, notice, or participate in any Brennan's Inc. shareholders meetings. Thus, the shareholders meeting called by the former shareholder was deemed improper and invalid. The Fifth Circuit held that Stone Pigman’s clients, Ted Brennan and Bridget Brennan Tyrrell, had not been validly removed from management and that they remain in office.
In a statement issued to The Times Picayune, Ted Brennan stated, "Phil Wittmann and his team are the best in the City, have righted this wrong, and we will be forever grateful."