Legal Question in Business Law in Delaware
Company Distribute Assets without Shareholder Spproval
I am a shareholder of a start-up company registered in Delaware. Recently, this company laid off all employees and distribute company assets, including IPR, to some of shaeholders without holding annual shareholder meeting for putting company on ice and company asset distribution. Is it legal ? and How and where shareholder can file the complaint on this ? Thanks.
Asked on 5/13/03, 5:13 pm
1 Answer from Attorneys
Bruce W. McCullough
Bodell, Bove', Grace & Van Horn. P.C.
Re: Company Distribute Assets without Shareholder Spproval
Shareholder actions are filed in the Court of Chancery in Delaware. Please feel free to contact me if you want to discuss this matter further.
Answered on 5/13/03, 5:53 pm
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