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Pride International, Inc. v. Bragg

The employment agreement between Pride International Inc. and Paul Bragg was not ambiguous. Bragg failed to raise a fact issue as to breach of the agreement and Pride did not raise an issue of fact under Delaware law as to any material breach of fiduciary duty. Houston�s 1st Court of Appeals, No. 01-07-00188-CV

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OPINION

This case arises from a falling out between a corporate CEO and his former employer. After Pride International, Inc. fired Paul Bragg and paid him a severance owed under his employment agreement, Bragg sued Pride for breach of that contract, contending that the Pride owes him three times as much in severance as it had paid him. Pride counter-claimed against Bragg for breach of fiduciary duty, contending that Bragg had misrepresented his opinion of the value of the severance package to Pride and its shareholders, in that he never disclosed that he thought the agreement (and others like it) was worth so much. The trial court granted summary judgment both to Pride and to Bragg, so that both received a take-nothing judgment. Both appeal the trial court’s judgment. We conclude that the employment agreement is not ambiguous, and that Bragg failed to raise a fact issue as to breach of the agreement. We further conclude that Pride has raised no issue of fact under Delaware law as to any material breach of fiduciary duty. We therefore affirm.

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