I am the minority shareholder in Company A (25%) and I am alleging breach of fiduciary duty and breach of contract breach, as I was also an employee of the company and was not paid my accrued salary and a note.
Compay B was formed by the chairman of the board of directors of company A. He loaded the board of directors of company A with his friends who were also officers and directors of Company B. These individuals used the facilities of Company A to raise funds for Company B, actively devalued Company A, then loaned money to company A. When Company A was on the brink of going out of buseinss, Company B made an offer to acquire Company A for the amount that had already been loaned. Since the majority of the directors of company A were officers and directors of Company B, there appeared to be a conspiracy to devalue company A and acquire its assets, mainly technology, for a song. I would like to see some case law that has dealt with these issues.
Isadora