tnielsen91
Junior Member
What is the name of your state? Texas
I have a venture where there are 4 Partners. We all own about 25 percent of the company in voting and non voting stock. , However one of the sahreholders, not me, has 51% voting rights. This shareholder also owns and operates a business outside of this one. He made a motion to have his other company purchase our LLC. Why all of the other member s are in agreement of this, I am not for various reasons. Put that aside, this shareholder had access to confidential info about the LLC. He gained access to this info for the benefit of his other business to make an offer. It is my belief that the offer is extermely low based off the current set of financials. We make alot of money. If I were to buy it, I would ask at least 3 times what he offered.
Do I have any sort of claim here? It is a private company, but he gained access to confidential information and instructed our CFO to come up with a purchase price. The CFO came up with a number that was about 3 times his buy out amount. He disregarded that number.
He drafted the merger papers with his atty and presented them to us last week. It included terms at which I was to abode by and set a non compete for 5 year. I would still be an employee. What are your thoughts?
I have a venture where there are 4 Partners. We all own about 25 percent of the company in voting and non voting stock. , However one of the sahreholders, not me, has 51% voting rights. This shareholder also owns and operates a business outside of this one. He made a motion to have his other company purchase our LLC. Why all of the other member s are in agreement of this, I am not for various reasons. Put that aside, this shareholder had access to confidential info about the LLC. He gained access to this info for the benefit of his other business to make an offer. It is my belief that the offer is extermely low based off the current set of financials. We make alot of money. If I were to buy it, I would ask at least 3 times what he offered.
Do I have any sort of claim here? It is a private company, but he gained access to confidential information and instructed our CFO to come up with a purchase price. The CFO came up with a number that was about 3 times his buy out amount. He disregarded that number.
He drafted the merger papers with his atty and presented them to us last week. It included terms at which I was to abode by and set a non compete for 5 year. I would still be an employee. What are your thoughts?