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The Texas Business Court has granted Toby Neugebauer's motion for expedited discovery in a lawsuit brought by the board of Fermi, which had sought to block shareholder accountability measures.
The ruling means Fermi's board will be compelled to turn over information on a fast-tracked schedule related to a bylaw amendment the board adopted requiring a 70% supermajority vote to expand the board's size.
A Board on the Run After Federal Loss Fermi's board had already lost its case at the federal court level before bringing the dispute to the Texas Business Court.
The pivot to state court follows a pattern seen in high-stakes corporate governance battles: when one venue closes, litigants search for another.
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