22 thoughts on “Trust Sues Oliver”

  2. This is criminal! How to replace the Trustees in mass?

    What are the odds that Trustees use Oliver’s openness in answering their questions from a couple days ago as part of their basis for their lawsuit and failing to “disclose material information relevant to shareholders”

    Liked by 1 person

  3. To Tyler Glover

    I know about your miss deeds. How about your uncle who is partners in a company called Ranch and Oil Field Services. They do alot of water and pipeline work is West Texas. How about you disclose all your family connection in midland.

    The fact that your sister in law is a realtor in Midland. Did you use her to buy the two house in Midland. Shareholders want to no. Do you get kick backs for some of your deals.

    How about your brother who has a land company in west Texas. You and David Barry are as dirty as they come.

    It is time for you to come clean you dirty bastard.

    Liked by 1 person

  4. So their position is basically that they are the all-knowing gods of the trust and us puny shareholders have no sense to make an informed decision based on the facts provided by both sides? These egotistical self-serving morons have got to be removed as Trustees of TPL. I had my doubts before, but now I am almost certain they have something to hide.

    Liked by 1 person

  6. How about the Fact the David Berry says he is the President of Tarka Resources but he is really the trustee. He has complete control of Tarka Resources and they are drilling on Texas Pacific Minerals. How did that Happen David Barry.

    Liked by 1 person

  8. Wonder if there will be a suit filed by HK and Softvest? There is plenty that could be challenged in my opinion. Given the acrimony seen so far, and the need to counter the way this looks if they do not respond, I’d expect a retaliatory suit to be filed quickly. They might already have one prepared “just in case” as a contingency plan.

    Agree TPLblogger, its very clear the existing trustees are not representing shareholders. The daily votes proxy received votes are shared to both sides and its very clear the trustees are losing. And even more clear they will do anything to stop that from happening.

    One can hope the next round of lawsuits is suing the trustees individually.

    Liked by 1 person

  10. How is General Cook still a part of this? Given how much he values integrity and transparency, he should have the decency to withdraw his nomination. With his stellar reputation, he should get as far away as possible from the current Trustees.

    Liked by 1 person

    • Couldn’t agree more. Does anyone have his contact info by chance? I think he should start hearing from shareholders.

      If Cook is on the board of the Texas chapter of the National Association of Corporate Directors, they should be getting complaints from shareholders that their leadership is taking positions that are not aligned with the organization’s values.

      Like

  13. Management now acting like they’re flying the Hindenberg. What a bunch of idiots — or worse. The whole thing’s starting to feel a bit sinister. See you all in court.

    Liked by 1 person

  15. I have been an tpl shareholder for many, many years. For many years, I have also followed Horizon Kinetics with their statements about tpl, I also practiced trust law for many years.
    1. Thank you for cresting,
    and maintaining your excellent blog. Without it we would not know what is happening.
    2. Thank goodness for HK. We owe them and Eric Oliver big time for fighting for us. HK knows tpl very, very well and are value investors. Mr. Oliver clearly knows oil and gas assets and tpl very well.
    3. The trustees actions have been outrageous. This latest move should call for a shareholder class action to immediately remove them by filing suit in the Delaware Court of Chancery. This court is set up for doing so.

    Liked by 2 people

  16. Does Texas have jurisdiction over the Trust? I thought the Trust is a NY one, and therefore the lawsuit should be filed there? Also, there appears to be a 1972 ruling that says a 5% registered shareholder can request a meeting.

    NYT archives has a bounty of information for you to peruse.

    Liked by 1 person

    • “…Fortunately, Broadridge has decided, following our public dissemination of this action, to reverse the Trustees’ directive to withhold shareholders’ proxies– proving the disinfecting power of the bright light of day – and we are now in possession of the votes delivered by shareholders through Broadridge. With those in hand, we will proceed to attend the special meeting scheduled tomorrow morning in Dallas.

      “As we have previously stated, in our view without a shareholder vote the incumbent Trustees simply do not have the power or authority to delay or cancel the special meeting or a vote on the trustee proposal. We will see this matter through tomorrow, and invite those shareholders who are in Dallas or who had already made travel arrangements to join us and cast their vote on this important matter.”

      http://www.prnewswire.com/...

      I wish my M.A. thesis defence wasn’t scheduled for tomorrow. I would have liked to have seen that.

      Like

  18. Long-time TPL holder here. If you asked me a year ago whether I had any misgivings about the TPL’s trustees, I would have looked at you like you were crazy. Now, I’m not so sure.

    On Monday, I thought Mr. Oliver gave reasonable answers to TPL’s questions. Although I am not an attorney, none of his answers raised any concerns. This leads me to believe that Judge Boyle will perceive the Blue lawsuit as frivolous.

    Earlier, the White team talked about “foot faults”. It’s like watching a sick tennis match with the back and forth. While I’m now mighty curious about what is likely to be a withering White response, ultimately I am sick about how much this much is costing. And the galling irony is that we’re all paying to fight for what is looking increasingly like a lost cause.

    Liked by 2 people

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