- Jurisdiction
- California
I am a shareholder of an incorporated construction business with 3 other people, I own 17%, the majority owner owns 51%.
After a recent argument, the majority shareholder/owner fired me via email.
He says the company will buy back my shares at the current valuation of the companies assets and projected earnings for the year, he projects around 30k
I initially invested 20k a few years ago, the company has grown quite a bit and takes in a couple of million in sales each year which I feel I have contributed to a lot.
I don't want to have a long term falling out but I also want to get the best value back
We did not initially draw up anything for this situation like we should of as we never thought this would happen.
I just want to know my options, we will have to go to lawyer to do paperwork but I want to get a better idea of my options first since this is not being dictated by me, I've been left with no assets, as company owns everything
After a recent argument, the majority shareholder/owner fired me via email.
He says the company will buy back my shares at the current valuation of the companies assets and projected earnings for the year, he projects around 30k
I initially invested 20k a few years ago, the company has grown quite a bit and takes in a couple of million in sales each year which I feel I have contributed to a lot.
I don't want to have a long term falling out but I also want to get the best value back
We did not initially draw up anything for this situation like we should of as we never thought this would happen.
I just want to know my options, we will have to go to lawyer to do paperwork but I want to get a better idea of my options first since this is not being dictated by me, I've been left with no assets, as company owns everything