bostonresident19
New Member
I will try and make this as clear and brief as possible. I was one of the founders of an LLC incorporated in Florida. After 17 months the other owners have decided my position is no longer needed and wish to terminate me, I acted similar to a co-CFO. The company has 10million issued Membership units and 200 million authorized. I have a copy of a stock certificate signed by the ONLY manager of the LLC stating my 2 million shares. I also have several documents reinforcing this including a few stating 20% ownership with about 6 of them signed by him, the manager.
The problem is on top of terminating me they suggested that my stock would become null. Our operating agreement is stock from legalzoom and there is nothing stating this is possible. I have suggested to them that the company should buy me out for 1.25% of the value per share investors have put money in at as recently as last month. I am doing this because the company does not have anywhere near the funds to buy me out for much more than that, and I didn't wish to harm the company as they were friends.
However now that they are trying to reject my ownership, I need to know how to claim ownership legally, and prove it to them. The manager actually BURNED all of the original stock certificates, and they think just changing the operating agreement and throwing out the old one I have a copy of cancels my ownership.
If I can prove ownership I can at the very least go back to the investors and offer them my shares at highly reduced cost to both liquidate my position and drop the companies inflated valuation.
Thank you if anyone knows anything specific on this!
The problem is on top of terminating me they suggested that my stock would become null. Our operating agreement is stock from legalzoom and there is nothing stating this is possible. I have suggested to them that the company should buy me out for 1.25% of the value per share investors have put money in at as recently as last month. I am doing this because the company does not have anywhere near the funds to buy me out for much more than that, and I didn't wish to harm the company as they were friends.
However now that they are trying to reject my ownership, I need to know how to claim ownership legally, and prove it to them. The manager actually BURNED all of the original stock certificates, and they think just changing the operating agreement and throwing out the old one I have a copy of cancels my ownership.
If I can prove ownership I can at the very least go back to the investors and offer them my shares at highly reduced cost to both liquidate my position and drop the companies inflated valuation.
Thank you if anyone knows anything specific on this!
