Legal Question in Business Law in Illinois

My accountant changed the number of stockholders in a corporation I formed with

My now exhusband & I formed a corporation if 2000, we signed papers in the accountants office stating that we had a 49/51 split with him being the larger shareholder. I have now found out that prior to those papers being filed new ones were signed leaving me out as shareholder. We formed an S corporation. My question is didn't she have a legal and ethical duty to inform me of this change? I put our house on the line (50,000.00) for a failing business as I thought I had a responsibility to the business and come to find out I didn't have any responsibility at all. She is a CPA in Illinois, though I have found out she is not a licensed CPA. Is there a governing board for non-licensed CPA's in the state of Illinois?? Thank you for your help


Asked on 5/24/05, 5:42 pm

2 Answers from Attorneys
Kenneth J. Ashman Ashman Law Offices, LLC

Re: My accountant changed the number of stockholders in a corporation I formed

Actually, you may very well have a claim against your ex-husband. If you had an agreement with him and thought you had taken all appropriate steps in conformance thereof, but your ex-husband unilaterally defrauded your of your rights, you would have a claim.

A lot depends on the particular facts and circumstances of your case, and it sounds like you could use some legal counsel. Please feel free to contact my firm if you should have any questions.

-- Kenneth J. Ashman; www.AshmanLawOffices.com; [email protected]

The information provided by Ashman Law Offices, LLC (�ALO�) is for general educational purposes only. No attorney-client relationship is established by this communication and no privilege attaches to such communication. ALO is not taking and will not take any action on your behalf and will not be considered your attorney until both you and ALO have signed a written retention agreement. There are strict deadlines, called statutes of limitation, within which claims or lawsuits must be filed. Therefore, if you desire the services of an attorney and decide not to retain ALO on terms acceptable to ALO, you should immediately seek the services of another attorney.

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Answered on 6/03/05, 8:33 am
Zedrick Braden III Ainsworth & Associates PC

Re: My accountant changed the number of stockholders in a corporation I formed

Hello. I certainly think you have a case against

the accountant. From the facts it is clear that

you were a victim of fraud. I believe that the

most efficient approach is to file a lawsuit

against the accountant. You should certainly

preserve all paperwork that is in your possession

as evidence. I will be happy to answer any

additional questions that you might have.

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Answered on 5/24/05, 10:43 pm


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