Q: Tightly held family owned company in New York State.Hostile to minority shareholders.Criminal liability for actions?
Only 2 officers held 90% of shares.
Refused documents, Lied about stock agreements, used position to force actions of clear coersion.
Hid wills. Refused stock buyouts, zero dividend for 20+ years.
Used corporate financial capacity and derived income to buy real estate to enrich themselves.
Used each other as excuse to act fairly. Paid themselves 200 K per year minimum while company lost money. Refused to divulge offers from outside parties to buy the company. Refuse to divulge information on their personal lawsuit with each over wherein the Real estate purchased using Company valuation and cash flow.
Refusal to allow corporate council the ability to answer complaints of minority shareholders. No annual meetings, reports.
Would like jail term for these special gentlemen. Please advise on actions and requirements.
If you care about Justice and really dislike sociopaths this is a worthwhile endeavor.
Property remains in the hand of senior partner value more than 2 million
A: Greetings. You appear to want to know if you can forward your dispute to the police, district attorney, or some other law enforcement agency. Any citizen may forward their conflicts to a law enforcement agency; however, such agencies often will not involve themselves in matters they deem personal or private. Shareholder disputes are often personal or private and the proper avenue for redress is the civil justice system, not the criminal justice system. For example, a minority shareholder in a close corporation may bring a lawsuit against the other shareholders for breach of contract, among other claims. They may also even pursue a dissolution of the corporation under theories of oppression. These types of claims require a lawyer however. Please contact a good New York lawyer who will help you. Good luck.
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