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Is the CEO of a Nevada pink sheet publically traded co required to notify S'holders of mergers, corporate changes, etc.I own stock in a NV, PK public co & stock value, is $.02. CEO owns 170M shares of total 200M shares & is merging w/larger private co who wants to be public. I think he will announce merger & sell his stock to co for approx $2M,not giving the existing public s'holders any cash or same offer. Is this legal? Doesn’t the CEO need to have "merger company" offer all s'holders same price/share. Isn’t the CEO required to have a S'holder mtg to vote on corp change before it happens? Isn’t the CEO's fiduciary responsibility, (he & his wife are the only 2 Board mbrs), to all s'holders & require a S'holder vote? Does his legal responsibility require notice to all s'holders of Attorney answers (2)
Reputation Level 15
Answered almost 3 years ago.
Speeding / Traffic Ticket Lawyer in Alexandria, VA.
My answer would be yes (probably) to your first question and no to all the rest involving this so-called "penny stock" company, but if you want to litigate matters, you should contact a Nevada attorney with knowledge and experience with mergers and acquisitions in that state.
M.E. Hendrickson, Esq. Alexandria, Virginia 22314
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Reputation Level 19
Answered about 2 years ago.
International Law Attorney in Washington, DC.
Yes, you should have equal opportunity to sell your shares - but as to the vote it would be moot since the CEO owns a super majority of voting shares. depending on how many shares you own, litigation might be an option.
Brimstone & Co. Attorneys & Solicitors 1629 K Street NW Suite 300 Washington DC 20006 USA Tel/Fax 1-202-318-2406 chambers@brimstoneandcompany.com www.brimstoneandcompany.com Related Questions2 Attorney answers: 
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