If you are a fan of desserts, you just might have had a pie from Tootie Pie. It is unlikely that San Antonio area residents will be enjoying Tootie Pie’s desserts much longer as the business has recently filed Chapter 11 bankruptcy. Lawyers in San Antonio often agree that a warranted Chapter 11 bankruptcy may be the only, and most misunderstood, decision for a company. Unfortunately, the company is taking many shareholders and creditors down with it. Tootie Pie actually falsified the company’s financial posture just before filing bankruptcy, which resulted in its shareholders further investing in Tootie Pie instead of divesting shares. As a result, the company is being sued by several of its investors. While the back of the counter businessmen are repairing and negotiating moves forward, the front of the counter customers are making their thoughts known. Many of them say that high prices may have contributed to the recent downfall. However, Tootie Pie hasn’t made any mention of revamped pricing or an altered menu.
While this case may result in federal action, the premise is not all too uncommon. There will always be bad business practices, and in the case of fraud, innocent parties are often dragged through the mud along with whatever business is acting in a fraudulent manner. If you find yourself in a similar situation, having invested yourself in another party based on fraudulent information, you might not be simply out of luck. Hiring the counsel of a trusted lawyer may be the difference in getting back what is rightfully yours and bringing justice against the other party. Indeed, the process can be confusing and those seeking this legal route should take great strides to ensure they retain experienced debt counsel from an attorney.
In the case of Tootie Pie, one particular shareholder has presented itself in an overly aggressive manner that has detracted from the issue. Leaving the legal work to a qualified San Antonio lawyer will ensure that your own reputation is kept intact and that the party in question is approached in the best manner possible. Do not let the stress and frustration of a similar situation further complicate your misfortune, call an attorney at our San Antonio law firm at (210) 503-2800.