May 22 (Reuters) - An investor group that collectively holds about 25% in Texas Pacific Land Trust said their nominee, Eric Oliver, was elected as a trustee at a special shareholder meeting, the validity of which was not recognized by the company.
The news comes a day after Texas Pacific said it had filed a lawsuit against Oliver, alleging that he "made material misstatements and failed to disclose material information relevant to shareholders."
The company had delayed its special shareholder meeting because of the lawsuit, a source familiar with the matter told Reuters, adding that Wednesday's meeting had been held in a separate room by the investor group.
Oliver is the nominee of SoftVest LP, Horizon Kinetics LLC and ART-FGT Family Partners.
A TPL spokesperson said the company was reviewing the matter. (Reporting by Debroop Roy in Bengaluru; Editing by Shailesh Kuber)