Legal Question in Business Law in Delaware

Private company stockholder rights

I am a stockholder in a private delaware C Corporation. What are my rights to receive/request financial information from the company on periodic basis? What legal obligations does the company have to provide updates to me? I am based in California and the company is headquartered in California but incorporated in Delaware


Asked on 2/17/09, 11:06 am

4 Answers from Attorneys

Scott Linden Scott H. Linden, Esq.

Re: Private company stockholder rights

You have the right to receive financial statements from the corporation. Noramlly these are done quarterly, bi-annually or anually and distributed to all shareholders.

Additionally, you should read the by-laws of the corporation to find out about voting rights; check and see if there are more than one class of stock.

I am certain we can assist you at contacting the corporation and seeing where to go from there. Please feel free to contact me at the email provided by Lawguru or through our firm's site at RulesOfEmployment.com.

Scott

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Answered on 2/17/09, 3:57 pm
Daniel Bakondi The Law Office of Daniel Bakondi

Re: Private company stockholder rights

If you do not know what is going on with the company financially, do you know if there may be other things wrong. Let me know if you want help.

Best,

Daniel Bakondi, Esq.

IMPORTANT:

No attorney-client nor confidential relationship is created through this communication. You may not rely in any way on this communication, and nothing herein constitutes legal advice nor legal opinion. Your issue may be time sensitive and may result in loss of rights if you do not obtain an attorney immediately.

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Answered on 2/17/09, 9:55 pm
Daniel Bakondi The Law Office of Daniel Bakondi

Re: Private company stockholder rights

If you do not know what is going on with the company financially, do you know if there may be other things wrong. Let me know if you want help.

Best,

Daniel Bakondi, Esq.

IMPORTANT:

No attorney-client nor confidential relationship is created through this communication. You may not rely in any way on this communication, and nothing herein constitutes legal advice nor legal opinion. Your issue may be time sensitive and may result in loss of rights if you do not obtain an attorney immediately.

Read more
Answered on 2/17/09, 9:55 pm
Sam Stamas Law Office of Samuel G. Stamas

Re: Private company stockholder rights

You have the right to receive financial information from the company regarding how it's doing. This, and other stockholder rights, should be detailed in the by-laws of the company and should have been explained to you when you purchased the stock. I think the by-laws are a good place to start.

IMPORTANT:

No attorney-client nor confidential relationship is created through this communication. You may not rely in any way on this communication, and nothing herein constitutes legal advice

nor legal opinion. Your issue may be time sensitive and may result in loss of rights if you do not obtain an attorney immediately.

Read more
Answered on 2/17/09, 1:40 pm


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