am a 20% shareholder in a private family company my brother who is 60% shareholder has refusesed me from employment ,no payment of dividend to me ,no
Asked on Aug 02nd, 2011 on Business Law - California
More details to this question:
financial stament,pls advice am worried the courts gave me my shares 2009 a after a court trial..he has also exclude my cousin a 20% shareholder he has hi-jack the company there is no comminication among us PLS ADVICE
Generally, California provides certain minority shareholder with rights to protect their interests. Corporations Code 1600. The rights include the right to inspect the books, records and minutes, and for certain shareholders the right to inspect the record of shareholders. Being a shareholder alone does not guarantee employment or a dividend. However, if the Board of Directors has declared and paid dividends to shareholders of the same class of stock, then you should be receiving your proportionate dividend.
For a good review of this area, please see our California Corporate
Lawyer Blog Article:
http://algcorporatelaw.blogspot.com/2007/03/minority-shareholder-rights.html.
If you would like to discuss this matter further, please call our office.
This Answer, and our other Answers on Lawyers.com, are general, and should not be relied upon as legal advice. Each legal matter is unique. This Answer and our other Answers on Lawyers.com do not represent the opinions or views of LexisNexis or its affiliated companies. Further, please be advised that Adishian Law Group, P.C. and its lawyers do not represent you until you have signed a retainer agreement with the firm. Until that time, you are solely responsible for any statutes of limitations or other deadlines for your case, potential case, transaction or potential transaction.
Consumers can use this platform to pose legal questions to real lawyers and receive free insights.
Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.