Legal Question in Business Law in Wisconsin
MInority Shareholders
Minority shareholder (siblings own about 45%) in a apx $50m revenue closely held business. Fired today without cause, as my brother was about two months ago. Business is run as the majority shareholder's piggy bank. Any recourse without spending $40-50k or more? That would create too much financial hardship.
Asked on 8/31/08, 1:37 am
1 Answer from Attorneys
Sean Sweeney
Tosa Law Office
Re: MInority Shareholders
That question is almost impossible to answer. Everything depends what is part of the articles of incorporation or the member's agreement if you have one.
You would need to get everything together and bring it to an attorney to get a real evaluation of the costs and your potential claim.
Good luck to you.
Answered on 9/01/08, 11:53 am
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