Barred from shareholders meeting

[Rich Uncle]

What is the name of your state? CA

Just wondering; the president of the corporation that employs me sent out a memo forbidding employees from attending the shareholders annual meeting without his permission.

I own thousands of shares in this corporation. Can he do that

 

[seniorjudge]

What is the name of your state? CA

Just wondering; the president of the corporation that employs me sent out a memo forbidding employees from attending the shareholders annual meeting without his permission.

I own thousands of shares in this corporation. Can he do that

Q: Can he do that?

A: Sounds like he already did. Will the meeting be during business hours? Maybe he needs to know if you will be gone. Ask him what the deal is.

 

[Beth3]

Or how about asking him for permission. If the meeting is during business hours, perhaps he wants to make sure that everyone doesn't abandon ship to go to the meeting.

 

[Rich Uncle]

Barred from meeting

Or how about asking him for permission. If the meeting is during business hours, perhaps he wants to make sure that everyone doesn't abandon ship to go to the meeting.

Well then I might have to actually attend . I just didn’t like his attitude and thought it might be a violation of some SEC regulation. I’m more peeved about being denied my rights than attending the meeting. You are right, it’s not only being held during business hours, but on the premises, and this guy would probably take the time from my accrued vacation time .

 

[seniorjudge]

Well then I might have to actually attend . I just didn’t like his attitude and thought it might be a violation of some SEC regulation. I’m more peeved about being denied my rights than attending the meeting. You are right, it’s not only being held during business hours, but on the premises, and this guy would probably take the time from my accrued vacation time .

What rights do you think you have been denied?


BTW, if I quit every job I had where there was a lousy boss, I would be fishing on the creek today, drawing welfare.

Hmmmm...you know, your post has given me an idea.

I'm going to Wal-Mart to buy a fishing pole and, on the way to the creek, I will stop and apply for welfare....

 

[Rich Uncle]

"What rights do you think you have been denied?"

The right to attend the meeting as a shareholder, even if I don't want to.


"BTW, if I quit every job I had where there was a lousy boss, I would be fishing on the creek today, drawing welfare."

I have, but I've been lucky, most of my bosses have been great, it's just some of the big brass that can be a pain. I'm close to retirement, and past the need for welfare, but I like the way you think!

 

[Beth3]

the president of the corporation that employs me sent out a memo forbidding employees from attending the shareholders annual meeting without his permission. How do you know you "rights" to attend the shareholders meeting will be denied? All the owner has said is that employees will need to ask his permission.

Since you don't even want to go to the meeting, this appears to be a silly debate.

 

[pogo_80]

What is the name of your state? CA

Just wondering; the president of the corporation that employs me sent out a memo forbidding employees from attending the shareholders annual meeting without his permission.

I own thousands of shares in this corporation. Can he do that

Check the corporate by-laws and any shareholder agreements. As a shareholder you absolutely have a right to attend all shareholder meetings. At a minimum he has to deliver written notice to you before any shareholder meeting (mine is 10 days). You also have the right to inspect company books and records and also receive a complete list of shareholders names and addressess, corporate minutes and a stock transfer ledger. Check the CA Business Corporation Act to see if you are entitled to any relief. In IL if the company fails to give any of the above documents you can obtain 10% of the value of your shares.

 

[seniorjudge]

Check the corporate by-laws and any shareholder agreements. As a shareholder you absolutely have a right to attend all shareholder meetings. At a minimum he has to deliver written notice to you before any shareholder meeting (mine is 10 days). You also have the right to inspect company books and records and also receive a complete list of shareholders names and addressess, corporate minutes and a stock transfer ledger. Check the CA Business Corporation Act to see if you are entitled to any relief. In IL if the company fails to give any of the above documents you can obtain 10% of the value of your shares.

Thank you for that information.

However, it is totally irrelevant to the question being asked in this thread:

Just wondering; the president of the corporation that employs me sent out a memo forbidding employees from attending the shareholders annual meeting without his permission.

I own thousands of shares in this corporation. Can he do that?

Employer has not forbidden anyone the right to attend anything; all employer has done has forbidden anyone to attend without his permission first.

100% legal.

 

[pogo_80]

By the way, since this is an annual meeting of the shareholders, this is when you elect the board of directors. Looks like he's in breach of his fiduciary duties to shareholders of the company. You have the right to vote at this meeting and by law, he's supposed to give you written notice of the date, time and place of the annual meeting. Is the President also on the board of directors? Is it possible he doesn't want certain shareholders to attend the meeting that he knows will vote him off the board. You are a shareholder and should be concerned and you need to exercise your right to vote at this meeting, even if you don't like the President of the corporation.

 

[pogo_80]

Thank you for that information.

However, it is totally irrelevant to the question being asked in this thread:

Just wondering; the president of the corporation that employs me sent out a memo forbidding employees from attending the shareholders annual meeting without his permission.

I own thousands of shares in this corporation. Can he do that?

Employer has not forbidden anyone the right to attend anything; all employer has done has forbidden anyone to attend without his permission first.

100% legal.

How can the President forbid a shareholder from attending the annual shareholder meeting without his permission first? The corporate by-laws should state the date of the annual meeting. For instance, the 1st Monday after the close of the fiscal or calander year. I'm the Vice President of a corp and have never heard of such conduct or legal rights by an officer of a corporation to forbid shareholders from attending shareholder meetings without permission first.