Representing Shareholders And Owners In Disputes
Operating a business in Minnesota requires a strong work ethic and typically includes a strong personality. Passionate owners and shareholders may not always agree on how to run the business. My name is Jared Goerlitz, and as a skilled partnership and shareholder dispute lawyer at Goerlitz Law, I can offer experienced, results-oriented dispute resolution. My experience includes managing disagreements for a broad range of business disputes out of court whenever possible, but I am always prepared to take the matter to trial if necessary to protect my client’s interests.
Common Causes Of Shareholder Disputes
Trying to maintain a stable working environment among shareholders with different goals and values often results in disagreements and disputes. The best interests of the company do not always align with the interests of shareholders, officers and directors. Business owners often file derivative suits over disagreements concerning financial matters, visions for the business’s future, and disagreements about management and decision-making.
Personal conflicts among company power brokers can also lead to a derivative claim. The bottom line is that whether it is real or perceived shareholder oppression, disagreements on how to interpret contractual agreements, or an ownership dispute based on clashing personalities, you need a law firm like Goerlitz Law on your side to protect your interests.
Methods For Resolving Minnesota Shareholder Disputes
The most straightforward solution to resolving the dispute is to buy out the shareholdings of the member(s) who are in disagreement with the majority. On a similar note, if all parties are willing, you can simply sell the company. Assuming these solutions are not feasible for financial reasons or otherwise, negotiating is the logical first step. This can be done with a professional mediator or simply by having both parties negotiate in good faith. Many businesses also choose arbitration as a way to avoid the time and expense of going to court. When these avenues are unsuccessful, litigation may be your final option.
Legal Requirements To Remove A Shareholder
The first thing to do if you want to force out a shareholder is to examine the shareholders’ agreement. If the shareholder is guilty of misconduct as defined in the agreement, pushing them out is a matter of bringing their actions to light. If there is no misconduct or violation of the agreement, a majority vote of at least 75% of shareholders is required to take action. Before any action is taken, it is best to consult with an experienced, business-minded attorney first.
How I Make A Difference In Shareholder And Ownership Disputes
For nearly 20 years, I have helped resolve the challenges presented by disputes among partners and owners. My years of experience include resolving disputes and disagreements involving:
- Breach of contracts and agreements
- Breach of fiduciary duty
- Misappropriation of funds
- Direction of the business
- Usurping partnership activities
- Unclear operating agreements
- Property and equipment ownership
- Dividend payouts, stock options
- Succession planning
Ownership conflicts can create high-stress situations. Your business is not only a focal point of your daily life but your livelihood and your legacy as well. When things go sideways at your company, you need an attorney who will roll up their sleeves and get to work resolving the issue. I have earned a reputation throughout Minnesota and western Wisconsin for my diligent approach to helping business owners resolve their most complex legal challenges.
Stop Disputes From Draining Your Bottom Line
Business conflicts waste the money and energy you need to grow. As an experienced partnership and shareholder dispute attorney, I settle conflicts that threaten your company. I provide the hard work and integrity necessary to resolve your matter.
Contact me today to discuss your case and protect your future. I serve clients across the Minneapolis and St. Paul metro area and western Wisconsin. Call my Woodbury office at 651-237-4845 or reach me by email to schedule a consultation.