Owning a minority interest in a closely-held corporation can place a shareholder in a precarious position. The majority shareholders can use their voting power to oppress the minority shareholder and exclude them from the intended benefits of their investment in the company. This can come in many forms, and often involves a combination of denying the minority shareholder a voice in management of the company and diverting financial gains of the company to the majority shareholders. This is often done by paying the majority shareholders excessive salaries as officers, directors or employees of the company so that there are no funds leftover to pay dividends.
Fortunately, Louisiana, and many other states, have enacted statutes to permit oppressed shareholders to force the company to buyout their shares at fair value. An experienced attorney can help you assert your rights and fight to get fair value for your shares.
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If you are a shareholder in a closely-held corporation and believe that you are being unfairly oppressed, you may have a right to be bought ought at fair value. It is in your interest to work with an experienced attorney who can provide you with the advice you need to reach a resolution that reflects your interests. The first step is to meet with a lawyer so you can learn more about your legal options.
To schedule an appointment with an attorney at Berg Law LLC, call us at 504-688-4402 or contact us online. From our office in New Orleans, we serve clients throughout Louisiana and beyond.