The Texas Supreme Court Holds That Shareholders Of A Real Estate Investment Trust Did Not Have Standing To Assert Individual Claims Against The Trust's Manager

11.14.25

In In re Umth Gen. Servs., L.P., United Development Fund IV ("Trust") was a Maryland real estate investment trust with over 12,000 shareholders. No. 24-0024, 2025 Tex. LEXIS 1029 (Tex. November 14, 2025). The Trust's declaration of trust governed shareholder rights and designated Maryland as the exclusive forum for derivative actions. The Trust's board of... Continue Reading

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