The company said in a press release that on February 27, 2024, the Delaware Supreme Court affirmed the Court of Chancery's ruling in its favor, dated February 26, 2024 and December 1, 2023.

8-KRegulation FD DisclosureFiled Feb 27, 2024Period of report Feb 27, 2024Summary published (UTC) Oct 31, 2026

Key points

AI summary

The company said in a press release that on February 27, 2024, the Delaware Supreme Court affirmed the Court of Chancery's ruling in its favor, dated February 26, 2024 and December 1, 2023.
The company said the litigation is with Horizon Kinetics LLC, Horizon Kinetics Asset Management LLC, SoftVest Advisors, LLC and SoftVest, L.P. (collectively, the Investor Group).
The company said the Court of Chancery found that, under the Stockholders' Agreement dated June 2020, the Investor Group should have voted with the Board's recommendation on Proposal 4 (the proposal to increase authorized common stock) at the company's 2022 annual meeting of stockholders.
The company said Proposal 4 is deemed approved by stockholders. It added that on February 26, 2024, the Supreme Court affirmed the Court of Chancery's post-trial decision and final judgment.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Delaware Supreme Court Affirms Ruling in Favor of Texas Pacific Land

The company said in a press release that on February 27, 2024, the Delaware Supreme Court affirmed the Court of Chancery's ruling in its favor, dated February 26, 2024 and December 1, 2023.

Source · Based on the filing body and exhibits

Litigation Counterparties: Horizon Kinetics and SoftVest Investor Group

The company said the litigation is with Horizon Kinetics LLC, Horizon Kinetics Asset Management LLC, SoftVest Advisors, LLC and SoftVest, L.P. (collectively, the Investor Group).

Source · Based on the filing body and exhibits

Stockholder Agreement Voting Obligation Ruled by Court of Chancery, June 2020

The company said the Court of Chancery found that, under the Stockholders' Agreement dated June 2020, the Investor Group should have voted with the Board's recommendation on Proposal 4 (the proposal to increase authorized common stock) at the company's 2022 annual meeting of stockholders.

Source · Based on the filing body and exhibits

Proposal 4 Deemed Approved by Stockholders

The company said Proposal 4 is deemed approved by stockholders. It added that on February 26, 2024, the Supreme Court affirmed the Court of Chancery's post-trial decision and final judgment.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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