QUESTION
When a 25% owner of company is temporarily "terminated" but still owns 25%, is it legal to stop all income to the temporarily "terminated" co-owner?
Asked on May 29th, 2014 on Corporate Law - California
More details to this question:
my services were terminated dec. 2011 during our annual corp meeting. i made over 96,000 a year to 0 from the call. im disabled and required medications that i struggled to acquire. as of april 2013, my services were re-established with the company, but at a much lower rate of pay. meanwhile, i later found out that in the time that my services were terminated, the company was paying my ex-wife $2500 monthly....and stopped paying her when they "rehired" me. also during my "termination" i couldn't pay for monthly bills and yearly taxes which i can't afford to pay for because of my substantial decrease of income....from the company i co-own!? do i have a reason to be concerned and/or pissed?
1 ANSWER
Yes, you have substantial claims, but some of them are going to expire 3 years after the event, and some already hae expired 2 years after the event. You must hire an attorney and file your lawsuit immediately.
My law firm is not taking on any more contingent fee lawsuits at this time. "Contingent fee" means you don't pay the lawyer anything until he collects a judgment or settlement from the other side. Since you don't have money to pay us now, you need to findl a contingent fee lawyer.
Good luck. Hurry.
Dana Sack
510-286-2200
Answered on May 29th, 2014 at 7:55 PM