Shareholder Rights, Minority Shareholder Oppression
The founding executive and shareholder of a closely-held business found himself to be a minority owner after many years of success, growth and sharing the fruits of success. He then found himself fired which resulted in a fight for his personal and family financial survival when his shareholder distributions, salary and benefits were terminated, while taxable non-cash income continued accruing to the shareholder. At this juncture it was critical to preserve the family’s financial viability and resolve the career issues via claims including breach of contract and breach of fiduciary duty. The claims resulted in a resolution that met the client’s goals for securing the future for himself and his family, under confidential terms. For a thorough discussion of these issues, or if you have other questions regarding your minority shareholders rights, please contact David Wright and Steve Runyan, or one of our other attorneys here to discuss your situation. It would be our pleasure to assist you.
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