Minority shareholder litigation can be some of the most contentious litigation in our courts in New Jersey. Oftentimes, the parties to these matters include family members or formerly close friends. You may not know this, but in New Jersey, if you are a minority shareholder in a small company, one having 25 or less shareholders, you have the ability to obtain relief in the New Jersey courts if those in control of your company have acted fraudulently, illegally, mismanaged the company, abused their authority, or have acted oppressively or unfairly toward you or any other minority shareholders in the company.
Once a court gets involved in the case, a Chancery Division judge has the ability to order relief to benefit minority shareholders. This relief may include appointing a custodian, appointing a provision director, ordering the sale of the corporation’s stock at a fair price to you or even entering a judgment dissolved the corporation.
At the end of the matter if the court determines that a party acts arbitrarily, vexatiously or otherwise not in good faith, it may award reasonable expenses, including counsel fees incurred in connection with the action, to the injured party.
Please call us today at 908-526-0707 or contact us online for a free consultation if you believe that you have been treated unfairly as a minority shareholder.