Providence Title v. Truly Title

CourtCourt of Appeals for the Fifth Circuit
DecidedMay 14, 2026
Docket25-40194
StatusUnpublished

This text of Providence Title v. Truly Title (Providence Title v. Truly Title) is published on Counsel Stack Legal Research, covering Court of Appeals for the Fifth Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Providence Title v. Truly Title, (5th Cir. 2026).

Opinion

Case: 25-40194 Document: 88-1 Page: 1 Date Filed: 05/14/2026

United States Court of Appeals for the Fifth Circuit United States Court of Appeals Fifth Circuit

____________ FILED May 14, 2026 No. 25-40194 Lyle W. Cayce ____________ Clerk

Providence Title Company,

Plaintiff—Appellant,

versus

Truly Title, Incorporated; Kim Sheets-Sheffield; Graham Hanks,

Defendants—Appellees. ______________________________

Appeal from the United States District Court for the Eastern District of Texas Civil Action No. 4:21-CV-147 ______________________________

Before Richman, Engelhardt, and Wilson, Circuit Judges. Per Curiam: * After merger negotiations between their two companies fell through, Tracie Fleming, an executive at Providence Title, pursued employment at Truly Title through her friend, Graham Hanks, the head of Truly’s Texas operations. Upon securing employment at Truly, Fleming, her husband, and another former Providence manager facilitated a significant move of

_____________________ * This opinion is not designated for publication. See 5th Cir. R. 47.5. Case: 25-40194 Document: 88-1 Page: 2 Date Filed: 05/14/2026

No. 25-40194

Providence employees and clients to Truly. In the aftermath, Providence brought numerous claims against Truly, Hanks, and the employees involved, including various contractual and business tort claims under Texas law. Providence appeals the dismissal of several of these state law claims. We affirm as to all. I. Providence Title Company and Truly Title are competitors in the Texas title insurance market. In 2019, Truly hired Graham Hanks to lead their operations in Texas. Shortly after joining Truly, Hanks and his friend Tracie Fleming, the President of Providence, discussed joining forces as a single “dream team.” Hanks and Fleming initiated merger discussions between their two companies, and the pair hoped that Truly’s acquisition of Providence would be a “great fit” for both firms. When negotiations began in April 2019, the parties entered into a two- year nondisclosure agreement (NDA) to protect confidential information exchanged during negotiations. Truly also signed a non-solicitation agreement (NSA) in May 2019, “agree[ing] to a one-year non-solicitation of Providence Title employees.” With these agreements in hand, Providence provided Truly with hundreds of documents describing the firm’s organization, top performers, and benefits. These documents included Providence’s profit and loss statements, details about employee compensation structures, and partnership agreements. Much of the material was exchanged via confidential file sharing websites and email, and Truly was granted access to Providence’s QuickBooks files. Truly also hired a business consultant, Chris Cranton, to study these documents and provide recommendations. Cranton identified several profitable Providence locations in North Texas, including offices in Southlake and Johnson County. Cranton also recommended delaying the

2 Case: 25-40194 Document: 88-1 Page: 3 Date Filed: 05/14/2026

proposed acquisition until late 2020 to maximize Truly’s profit from the deal. Cranton provided his analysis to Truly’s CEO, Michael Tafoya, as well as the company’s President and COO, Mike Kirby. After seven months of merger discussions, negotiations broke down in November 2019. Tafoya testified that the merger failed because Providence demanded that Truly sign a ten-year master service agreement with Providence’s preferred law firm to perform document preparation after the companies merged. Providence insists that Truly only objected to the agreement to sabotage the acquisition and begin competing with Providence, armed with troves of confidential information that Truly had acquired during negotiations. Whatever the reason for the impasse, negotiations stalled, and no new information was exchanged for several months. In July 2020, Tracie Fleming contacted Hanks to discuss leaving Providence for Truly. The two discussed in detail her potential employment and the possibility of opening new Truly offices under Fleming’s supervision. While she was at it, Fleming also negotiated a position at Truly for her husband, Mark Fleming, down to setting his compensation and benefits. At the time, Mark Fleming was a Team Leader for Providence’s Johnson County offices. Between November 2020 and February 2021, both Tracie and Mark Fleming assessed potential office locations with Hanks, and Tracie Fleming identified other Providence executives who might be willing to jump ship. In December 2020, Truly made formal job offers to the Flemings, which they promptly accepted. The Flemings resigned from Providence on February 3, 2021. Truly then moved quickly to open new offices in Johnson County, anticipating that many Providence employees would move over. A few days before resigning, Tracie Fleming had informed Hanks that Truly could begin recruiting Providence employees the following weekend after her resignation

3 Case: 25-40194 Document: 88-1 Page: 4 Date Filed: 05/14/2026

took effect. After resigning, Mark Fleming told his coworkers at Providence’s Johnson County offices that they could speak with him if they had any interest in his new employer, and within a few hours several employees had called him to seek employment at Truly. He provided Tracie Fleming with a list of interested employees, which she used to develop attractive job offers. In most instances, Truly offered Providence employees compensation that slightly exceeded their pay at Providence. During this same period, Kim Sheets-Sheffield, a Team Leader at Providence’s Southlake office, separately made plans to join Truly. Sheets- Sheffield began discussing her potential employment with Hanks in November 2020 and expressed the hope that some of Providence’s Southlake employees would follow her. While still employed at Providence, Sheets-Sheffield told Hanks about the salary and office equipment needs of Southlake employees and coordinated with Truly to find suitable locations for a new Southlake office. Before leaving Providence, Sheets-Sheffield organized a “happy hour” for her team that doubled as a group interview with Hanks and Ray Byrns, a Truly recruiter. On February 1, 2021, Sheets- Sheffield resigned from Providence, and the happy hour took place that same evening. Eventually, all Providence employees who attended the happy hour moved to Truly. After joining Truly, Sheets-Sheffield also began soliciting former Providence clients, promising: “Same team, just new company.” As a result, Providence lost significant business to Truly. There is no evidence that the Flemings coordinated their efforts with Sheets-Sheffield, though Tracie Fleming learned that Truly was recruiting Sheets-Sheffield before January 2021. That month, both Mark Fleming and Sheets-Sheffield declined to recommend raises for employees under their supervision at Providence. And after Sheets-Sheffield resigned with some of her subordinates, Tracie Fleming briefly participated in Providence’s public relations response, despite her own plans to join Truly.

4 Case: 25-40194 Document: 88-1 Page: 5 Date Filed: 05/14/2026

Providence filed this action in February 2021. Initially, Providence alleged a raft of claims against Truly and Hanks (collectively, Appellees), including (1) violation of the federal Defend Trade Secrets Act (DTSA), (2) conspiracy to violate DTSA, (3) violation of the Texas Uniform Trade Secrets Act (TUTSA), (4) knowing participation in a breach of fiduciary duty, (5) tortious interference with the shareholders’ agreement, (6) tortious interference with prospective contractual relationships, (7) tortious interference with prospective customer relationships, and (8) civil conspiracy. Providence also alleged claims against Truly alone for breach of the NDA and breach of the NSA.

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Bluebook (online)
Providence Title v. Truly Title, Counsel Stack Legal Research, https://law.counselstack.com/opinion/providence-title-v-truly-title-ca5-2026.