Shareholder disputes arise throughout the state of Ohio in LLCs, corporations, and general partnerships alike. Whether you are an equal partner or a minority shareholder, you may be angered by the misuse of your money by a business colleague or shareholder.
At Jett Law LLC, I litigate in Cleveland and throughout all of Northeast Ohio on behalf of clients who are involved in disputes with a majority shareholder or a 50-50 partner, among others. My firm focuses on commercial litigation in the greater Cleveland area, and I am eager to help you seek to achieve your objectives for the benefit of your company, whatever those objectives may be.
Ohio partners, shareholders, and LLC members have numerous rights and duties that I can help you to enforce in your partnership, LLC, or corporation. These include the right to information and the duty of shareholders to always act in the best interests of the corporation, rather than advancing their own personal interests or agendas at the expense of the corporation.
Disputes can occur when a person believes that company management or a shareholder is hiding something. This mistrust may increase if a shareholder asks for information and it is not provided.
The Ohio courts have held that corporations should provide wide access to shareholders of information that relates to their shares. As a commercial litigation attorney, I am well-versed in helping clients obtain the details that an LLC or shareholder was hiding in violation of the law.
Minority shareholders in Ohio also have the right to be free from oppression by those with larger or preferred shares in a business. For example, a preferred or majority shareholder should not be making decisions or obfuscating or pursuing corporate objectives to benefit themselves personally without giving the other shareholders an equal chance for the reward.
Evidence of shareholder or management misconduct is often used to demonstrate a breach of fiduciary duty. At Jett Law LLC, I have dealt with numerous cases of this type and am prepared to prove such wrongdoing in court for my clients.
Other shareholder disputes involve smaller companies. Conflict may arise when it’s decided to dissolve the business but shareholders are unable to agree on how to do so fairly. In other situations, one partner wants to buy the other person out and operate the company on their own, but the two of them cannot agree on an equitable split.
Additionally, arguments may occur when a partner violates a shareholder agreement, which is a legal document that states the rules of the shares and their management. Frequently, disputes arise when someone is using company funds for personal use and then hiding it from other shareholders. At Jett Law LLC I have seen a variety of cases involving all of these situations and more.
When you start a company with others, you generally feel hopeful about the future and the profits you will make. However, when there are shareholders, matters get more complicated because of the rights and duties required by the laws of Ohio.
Hiring a commercial litigation lawyer can make all the difference for a successful outcome in a shareholder dispute. Attorneys who are comfortable in the courtroom, as well as the boardroom, can provide the zealous advocacy that is necessary to prevail in a shareholder dispute.
If you believe that your rights are being violated as a shareholder, or if you think your shares are being misused, it may be wise to call a commercial litigation attorney. At Jett Law LLC, I provide knowledgeable and attentive guidance to my clients throughout the legal process. If you live in Cleveland or anywhere in the Northeast Ohio area, I am available to speak with you. Contact me today so that I can get started on your case.