When it comes to partnership and shareholder disputes many times the disassociated/lock-out partner is accused of‚ somehow‚ violating his or her “fiduciary obligations”. These allegations come in many forms and include allegations of (a) theft‚ (b) misappropriations of assets and (c) diversion of business opportunities. Many times this all amounts to a pretext and excuse to just get you out.
This happens far too often and if you are a partner/shareholder/member and locked out of your own company‚ some factors to know‚ include:
- Do not give credence to the “alleged” wrongful acts that you are claimed to have undertaken. No one is perfect and while you must always be accountable for your actions your partners should not and are not permitted to just “unilaterally throw you out”.
- Gain perspective and understand that you are really involved in an economic bottle. Your partners may be utilizing a minor imporprietary as an opportunity to drown down and‚ basically‚ steal your equity. So no matter the allegations stand firm respecting the equity and ownership interests that you have earned.
Why do I mention the foregoing? Because on a daily basis I speak to many hardworking and intelligent shareholders/partners/members who must‚ unfortunately‚ defend their own economic interests from their own partners. Usually they all face allegations of improprietary that‚ usually‚ amount to not much.