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Can a majority shareholder force a minority shareholder to…

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Can a majority shareholder...

Can a majority shareholder force a minority shareholder to sell shares in a Nevada corporation? What remedies do minority shareholders have to prevent this action?

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Submitted: 5 months ago.Category: Business Law
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Answered in 1 minute by:
1/19/2018
Business Lawyer: DrakeLAW, Attorney replied 5 months ago
DrakeLAW
DrakeLAW, Attorney
Category: Business Law
Satisfied Customers: 1,038
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Hi, my name is ***** ***** I look forward to helping you, please give me a moment to review and possibly research answers to your question.

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Business Lawyer: DrakeLAW, Attorney replied 5 months ago

No, you can never be forced to sell your shares. In fact, the majority shareholder usually has a fiduciary duty to minority shareholders.

On what basis, is the majority shareholder claiming to have the right to force the minority share sale?

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Customer reply replied 5 months ago
I believe they think they have the right to do so. Majority owner has a major gold find in Arizona, Wants to be the sole beneficiary.
Plans to offer an unreasonable price per share.
Business Lawyer: DrakeLAW, Attorney replied 5 months ago

Well they don't. Is there a written Shareholder Agreement?

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Customer reply replied 5 months ago
I am not sure. Major gold find in Arizona. Majority stockholder in public company wants to be the sole beneficiary. No stock holder meeting in 2 years. Keeping tight lipped about findings and results. Not transparent no leaking of information. I am just hearing rumors
Business Lawyer: DrakeLAW, Attorney replied 5 months ago

Alright, well absent some provisions in an agreement, you cannot be forced to sell.

If you want to demand answers you can through the Board or officers.

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