If you have a dispute with your co-shareholders, partners, or co-members of an LLC,  have been oppressed, locked out from, or excluded from the company’s transactions, decision-making, and bank accounts, you should find copies of all agreements that the partners signed.  Many people refer to shareholders or LLC members  as “partners,” when they are not truly partners, but rather are shareholders in a corporation, or members of an LLC.  The rules can vary for each situation.   You may have a shareholder agreement and bylaws, an operating agreement, or a partnership agreement.  You may want to demand accounting in order to understand the finances of the company.  If the other owners will not honor their agreement, or if you have no agreement, your attorney will review your rights and claims with you, evaluate a possible buyout/settlement, determine whether you can sue, whether arbitration is required, and whether you might be able to recover your legal fees if you prevail.

If you have been involved in a partner or shareholder dispute, contact us online or call Scott Lanin, Esq. at (212) 764-7250 Ext.201. We offer a free phone consult to review and evaluate your case or you can schedule an office consult.