Expert Advice When You Need It Most

I am a stockholder in a small Corporation. What rights do I have if the company is not registered on the stock exchange?

The board of directors refuse to allow me to attend any meeting they have plus when I ask to see the minutes. They will not allow me to see anything
until it is approved at their next meeting.Which could sometimes be 3 to 6 months. When they finally sent the minutes they took a black marker and marked through whatever information they wanted. I requested a clean copy and they refused. I am one of only 6 people who attend the stockholders meeting. the remaining people are all family. I only own 52 shares and have been told basically to shut up. This last go round they gave themselves 150% raises. Then they gave a 10% raise to an employee plus company stock but told the stockholders the company stock was given rather than salaries or bonuses when they already gave both. Please help

Save

Attorney answers (1)

Reputation Level 15
You should retain counsel to protect your interests here. Depending on what state the corporation is registered in, state law may give certain rights to minority shareholders in this situation. You should review a copy of the bylaws to determine what rights are given to you in this situation. Your counsel may have to threaten court action in order to get this company to perform its corporate obligations properly.
6 people marked this answer as good
One or more answers have been taken down.

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 
Ask now