Wisconsin shareholder disputes that require an attorney are where Condon Law Firm can help. Often these disputes involve 50/50 ownership structures, with the owners needing to work out their dispute or dissolve the organization. The disputes also can involve minority owners that either feel the majority actions are unjust or that their rights are being oppressed. The majority owners also have rights of action, including the right to act per the corporate governing document. Whatever the situation, the need for an attorney in handling shareholder disputes requires the advice and legal counsel of Condon Law Firm.
Consider the jury instruction and background law to Wisconsin shareholder disputes. Corporate directors and officers have been variously described as trustees, fiduciaries and agents of the corporation. As such, they owe the corporation complete loyalty, honesty and good faith. Their first duty is to act in all things of trust wholly for the benefit of the corporation, and this encompasses a duty to prevent using a position of trust to further private interests. These obligations compel the officers to discharge his or her duties with absolute fidelity and loyalty to the interests of the corporation, to keep the corporation informed with respect to, and to make full disclosure to the corporation of, all material facts that affect the subject of his or her employment. These also include consulting with the corporation on emergency developments, if opportunity exists to do so; to exercise the skill and care standard for such employment in the community; in all respects to discharge faithfully his or her duties, so as to protect and serve the best interests of the corporation.
Where does this go wrong? It can go wrong through action. It can go wrong through opinion as to a person’s “right” to act. It can go wrong through outside pressures of cost, debt and company obligations to its members. The end result can take the form of a shareholder derivative suit, which means a lawsuit brought by a shareholder on behalf of a corporation against a third party. Often, the third party is an insider of the corporation, such as an executive officer or director. It can also result in legal action to liquidate the company and its assets.
Regardless of the cause or impact, Wisconsin shareholder disputes are matters that can be brought to Condon Law Firm. Use the firm’s experience to represent:
- individual shareholders
- the company
- minority shareholder groups or
- majority members, including directors and officers
- limited liability companies (LLC);
- joint ventures
The issues vary — fiduciary duty, corporate authority, and statutory rights of the corporate entity — but the need for legal counsel does not. Wisconsin shareholder disputes are matters for the Condon Law Firm.