Stisser v. SP Bancorp, Inc.

This appeal concerns Maryland’s power to exercise personal jurisdiction over a company headquartered in Texas, as well as the out-of-state directors of another company that was incorporated in Maryland and headquartered in Texas. All relevant activity leading to the merger of companies challenged in the underlying shareholder action occurred outside Maryland except one: the incorporation of a transitory merger subsidiary.

Gary W. Stisser and Fundamental Partners (“Appellants”) are not residents of Maryland, but they owned shares of common stock in SP Bancorp, Inc. (“SP”), which was a company…