Legal Question in Business Law in Massachusetts

Can i sue LLC member for stealing ownership

I co-founded an LLC with about 6 other people. I had 45 percent ownership and so did one other person, a lawyer. I was the software expert. We did about $1,000,000 in the first year. A few months ago, the lawyer who had 45 percent approached me and my wife, and said that because I charged about $2000 in meals over the prior year (mostly for company meetings), he would have me and my wife put in jail for stealing if I did not give him over half my of onwership. My wife was scared and I gave him the percentage so that he now owns 70 percent and I own only 20. Now, other members are telling me that was wrong, that I had the right to charge the meals, and the member who is a lawyer extorted my ownership. Can I sue this guy?


Asked on 11/21/06, 1:30 pm

1 Answer from Attorneys
henry lebensbaum Law Offices of Henry Lebensbaum (978-749-3606)

Re: Can i sue LLC member for stealing ownership

I think it sounds like a form of extortion, especially if the costs of the meals were connected to the business. I think that you may well have a civil action against this person.

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Answered on 11/21/06, 5:00 pm


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