Legal Question in Investment Law in Florida

I invested in a start up company two years ago and recieved common stock in a florida corporation. I was told by the engineer the product is almost completed. But, the "CEO" told me there is nothing left and to forget about itl. In our past converstaions he has spoken about being taken advantage of by his partners and did not want them to recieve any profits. Can he close one corporation and open a new one and leave all of the earlier investors with nothing? Do I have any legal recource?


Asked on 1/01/10, 10:19 am

1 Answer from Attorneys
Alan Wagner Wagner, McLaughlin & Whittemore P.A.

It depends on what the shareholder agreements say and what the otrher documents and contracts provide. sometimes they can; sometimes they can't.

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Answered on 1/06/10, 11:24 am


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