CEO Andrew Gautreaux faces allegations of embezzlement and the misappropriation of approximately $5 million in corporate funds for his personal use while others knowingly ignored or emboldened the activity.
AUSTIN, TX, August 19, 2020 /24-7PressRelease/ — A lawsuit filed against Legacy Exploration, LLC CEO Andrew Gautreaux and others details widespread fraud and corporate waste, according to attorneys at Shaw Cowart, LLP, the Austin, Texas law firm representing the plaintiffs in the case.
The lawsuit filed in the District Court in Dallas Texas on July 31, 2020 asserts claims for “breach of contract, breach of fiduciary duty, fraud, conspiracy to commit fraud, and corporate waste against Defendants Andrew Gautreaux, Clayton Gautreaux, D.D.S., Lori Gautreaux, Richard Weiner, M.D., Derrick May, and Joseph Shelton.”
The claim alleges that Andrew Gautreaux misappropriated approximately $5 million of Legacy Exploration, LLC funds for his own personal use, including to pay for gambling, private air travel, golfing, vacations, sporting teams and event tickets and sponsorship, and personal expenses for himself and others.
Rather than stopping Andrew Gautreaux’s inappropriate use of corporate funds, the lawsuit asserts that the other defendants in the case, “either stood idly by or boldly enabled Gautreaux’s fraudulent behavior because it was in their personal financial interest to keep Gautreaux happy….”
In addition to seeking non-monetary relief and monetary relief, the claim states that the plaintiffs, Phillip Peterson and Brinn Bettis, “also seek the judicial dissolution and windup of each of Legacy’s and T-Rex’s businesses,” due to the defendants’ willful and deliberate breaches of their fiduciary duties.
In a recent statement on the lawsuit, the plaintiffs’ legal team announced, “Shaw Cowart is working diligently on this case and we look forward to litigating it to a successful conclusion.”
Attorneys Ethan Shaw and John Cowart serve clients in the Austin area and throughout the United States. Their diverse clientele includes individuals, Fortune 100 corporations and other publicly traded companies across the nation. In addition to a wide range of business litigation claims, including individual lawsuits and complex corporate litigation, Shaw Cowart, LLP also has extensive experience with personal injury cases, including car accidents, catastrophic injuries, defective products, insurance coverage disputes, and more. The firm is located at 1609 Shoal Creek Blvd, #100, Austin, TX 78701. Visit https://www.shawcowart.com or call (512) 499-8900 for a confidential consultation.
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