Injunction and restraining order sought against business owners
A group of investors are suing, alleging minority share holders engaged in fraudulent conduct and fiduciary breaches.
Yellow Rack, Split Ventures, and Jay Johnson filed suit in Harris County District Suit on Oct. 13, stating that Yellow Rack co-owners Mathew Sopel and Michael Kirkeby engaged in fraud to breach their fiduciary duty.
Mathew Sopel, a truck driver and inventor of truck storage racks, approached his brother-in-law Johnson to invest in a company to sell his truck racks. According to Johnson, he invested capital into the company the fledgling company. When the business started taking off, Sopel and Kirkeby allegedly drained the bank accounts in order to "enrich their personal lives," the suit states.
In the suit, Johnson alleges that unless Sopel and Kirkeby are stopped, he and the companies they own will suffer irreparable harm.
It was the responsibility of Sopel and Kirkeby, he says, to honor their business agreement, as well as to return the money they have taken from the company's bank accounts.
Johnson is being represented by Houston attorney Mark Goranson. He is seeking an injunction and restraining order, compensatory and punitive damages, in addition to court costs and attorneys fees.
Harris County District Court Case No. 2010-67623
This is a report on a civil lawsuit filed at the Harris County Courthouse. The details in this report come from an original complaint filed by a plaintiff. Please note, a complaint represents an accusation by a private individual, not the government. It is not an indication of guilt, and it only represents one side of the story.
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