The Business Litigation Blog

A Shareholder Dispute Victory for PLF

Kudos to PLF attorneys, Tom Patterson and Elise Yu, who recently won another victory in a shareholder dispute lawsuit between a departing shareholder-employee and a company. PLF's client was a longtime stockholder-employee of a Chicago-based company that had initiated the buyout of our client's shares following the end of our client's employment with the company. But then, the company abruptly halted the process and absolutely refused to purchase our client's stock. PLF filed a complaint alleging breach of the Illinois Business Corporation Act and asking for declaratory judgment on the shareholder agreement.

 

Following a withdrawn settlement offer by the company and months of negotiations, PLF successfully urged in a complaint for declaratory judgment that a third appraiser be appointed. The appraiser responded and our client's stock was purchased by the company for more than 25% of the company's highest settlement offer, much to our client's satisfaction.

 

For further information or if you have a question about shareholder matters, please contact Tom Patterson at tpatterson@pattersonlawfirm.com or Elise Yu at eyu@pattersonlawfirm.com.

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