Chicago Attorneys Protect Minority Owners from Business Oppression
Drawing the line against abusive practices by controlling shareholders
As an investor or partner in a business enterprise, you have an expectation that the controlling ownership will act in the best interests of the company. Unfortunately, many corporate officers abuse their authority, unjustly enriching themselves and exposing the company to financial peril. When minority partners and shareholders don’t get their complaints solved through corporate channels, they often believe they have no recourse, except to divest themselves of their holdings. If you’ve tried everything you can think to do, it’s time to call Schwartz & Kanyock, LLC. With more than 50 years of combined business litigation experience, our attorneys know what it takes to stop business oppression. We have specific knowledge of substantive law and experience in court procedure that enables us to find solutions for oppressed partners and investors.
Cures for minority shareholder oppression in Chicago
If you’re a minority shareholder dealing with an abusive majority, you’re probably familiar with Ben Franklin’s comment that “Democracy is two wolves and a sheep voting on what to have for lunch.” You can’t get your candidates elected to the board, and after a few rounds of elections, you discover that you are “what’s for dinner.” The controlling faction keeps the abusive practices coming, one after another, including:
- Opting not to declare dividends
- Increasing spending to reduce profits and justify deferring dividends
- Denying minority shareholders the right to inspect corporate records
- Issuing additional stock to dilute minority shareholder interest
- Attempting to squeeze out / freeze out minority shareholders
- Moving assets out of the business
- Terminating a minority shareholder’s employment
Fortunately, there’s more to Doctor Franklin’s quotation: “Liberty is a well-armed sheep contesting the vote.” Schwartz & Kanyock, LLC has the knowledge and experience to liberate trapped shareholders from business oppression. Although these cases can be difficult to fight, owing to the broad discretion corporate officers often have under company bylaws, we have a distinguished record of success in contentions business entity litigation.
You should know that there are many remedies open you to, from injunctive relief to a business divorce. We work closely with you to determine your goals and implement effective strategies for obtaining relief.
Contact our experienced corporate litigators to fight shareholder oppression in Chicago
Minority shareholders have a right to fair treatment under their company’s bylaws. Schwartz & Kanyock, LLC fights business oppression by pursuing proven strategies to obtain appropriate remedies. To schedule an initial consultation with an experienced corporate litigator, call 312-436-1442 or contact us online.