3 ms·
And what is the lesson? Get better documentation of total shares in the company next time Understand that shares granted by a private corporation will tend to
by brk 17y ago
And what is the lesson?
Get better documentation of total shares in the company next time
Understand that shares granted by a private corporation will tend to have little, if any, real value until such time as the corporation goes public or gets sold. If neither seems probably, you basically just own "paper"
Don't be swayed by shares of stock
Don't take stock in lieu of pay (granted, you might not have had much other choice here).
Make sure there is a clear, documented, signed understand of what exactly you can DO with those shares.
- jacquesm 17y agoEvery corporation has articles of incorporation, bylaws and there may even be a shareholder agreement. Any or all of the things you say may or may not be applicable depending on the existence and contents of those documents. OP may have more rights and possibilities to recourse than he thinks, being a shareholder is not 'all bad', there are plenty of laws that govern your rights as a shareholder too. At a minimum there has to be an annual report and a once per annum general shareholders meeting, if the percentage the three hold is large enough they may even be able to convene such a meeting. Seriously, get a lawyer if the stakes are high enough. If it's a couple of grand your talking about let it go and hope that some day they get bought out, then you will be in the drivers seat (they won't be able to sell without your consent).
- russell 17y agoMinority stockholders are pretty much at the mercy of the majority holder, except for out and out fraud. They dont need the OP's consent. They may ask for his vote, but that is all it is, a per share vote.