As a minority shareholder, a person is somewhat at the whims of the majority shareholders. While these shareholders have a fiduciary duty to protect the interests of all shareholders and maximize revenue, it is possible for the majority shareholders to accept a deal that does not pay fair value to all shareholders. In this case, Florida law grants minority shareholders some protections through Fort Lauderdale appraisal rights lawyers to make sure their interests are protected.
The rights of minority shareholders are codified in the Florida Business Corporation Act, which lays out actions minority shareholders can take if they disagree with a proposed action. One example of a protection that is available to minority shareholders under the Florida Business Corporation Act is the availability of appraisal rights to a minority shareholder who dissents from a proposed major corporate action. The right of shareholders to appraisal is codified at Florida Statute section 607.1302.
In an appraisal right, a judge will assess the value of a company and the new buyer will be required to pay those shareholders bringing the litigation the price set by the judge. So if a buyer were looking to buy a company for $15 per share and the judge set the fair price at $25 per share, the buyer would have to pay those litigants that price for the company. However, if a judge were to set the price lower, the buyer would have to pay the lower amount and the litigants would have to take it.
Because of the financial implications these actions have on a shareholder, it is wise to find a Fort Lauderdale appraisal rights lawyer who has the knowledge to evaluate a given proposal and give expert analysis on the fairness of a given proposal.
With our insightful legal analysis and effective legal strategies, we can assist in protecting your stockholder interests when they are at risk. We can make sure that you are getting full value for your shares by having our team of Fort Lauderdale appraisal rights lawyers examine the proposal from all angels.
We utilize the team approach because we believe that collaboration enhances the quality of service to our clients, and adds value to our representation. Our attorneys bring insightful legal analysis and hard work in every aspect of your case. We dedicate detailed and in-depth attention and analysis to all of our cases at a level that surpasses the big firms, but with legal fees that do not. This allows you to save money while sacrificing nothing in terms of expertise or quality of representation. We take great pride in our client satisfaction and in fostering a level of trust through open communication.
We are committed to our clients as we are to their cases – Your phone calls are returned promptly; the lawyer assigned to your file is directly accountable to you; and, you will always be able to contact the partner in charge directly, without any buffers. If you are currently attempting defend against an action by majority shareholders that you feel is unfair, contact the South Florida appraisal rights attorneys at Schecter Law. We strive to produce satisfied clients and we would be happy to assist in any shareholder disputes you may have.