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MShore Law
MShore Law, Attorney
Category: Business Law
Satisfied Customers: 25285
Experience:  Drafted Negotiated and/or Reviewed Thousands of Commercial Agreements
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I want my brother three sons out the business ( meat and

Resolved Question:

I want my brother three son's out the business ( meat and groceries ) I hold 33.3% my brother with the son's hold 33.3% my other brother hold 33.3 %.

My two brother have other store with 50% wonerchip each one.they are making very good money.
The brother with the son's is in mexico most of the time and he left his son's like woners one of them is in the cash register the other two in the meat department
I work in groceries and vegetables I making inventories the inventories are bad neither of my brothers care about them. whatcan I do
Submitted: 6 years ago.
Category: Business Law
Expert:  MShore Law replied 6 years ago.
Thank you for the post, I am happy to assist you by answering your questions. Are the fractional ownership shares stipulated in writing? If so, is it via an operating agreement, shareholders' agreement, or partnership agreement?
Customer: replied 6 years ago.
YES There is un operation agreement
Expert:  MShore Law replied 6 years ago.
ok, and per this operating agreement, what percentage do you own?
Customer: replied 6 years ago.
Expert:  MShore Law replied 6 years ago.
ok, as a minority owner, you would need the backing of another member whom is in agreement with you, such that collectively you have a 51% vote compelling the removal of the sons from the business, though not divesting them of their shares. Do you have any shareholder whom would be in agreement with you?
Customer: replied 6 years ago.

Can I sue them

Expert:  MShore Law replied 6 years ago.
Yes, you can. The basis of your suit would be breach of fiduciary duty and you would sue on behalf of the business. The theory is that they have an obligation to the business and they are failing to fulfill that duty.
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