Written Agreements Reflect Reasonable Expectations of Shareholders
Minnesota common-law and the Minnesota Business Corporations Act (“MBCA”) create certain fiduciary duties owed by the majority shareholders of a corporation to the corporation’s minority shareholders. In McKee v. St. Paul Eye Clinic, P.A., No. 62-CV-12-8028 (Minn. Ct. App. Apr. 20, 2015), the Minnesota Court of Appeals affirmed the decision of the Ramsey County District […]
Breaking the Bank for a Minority Shareholder Buyout
In Lewis v. Borchert, A14-0379, 2015 WL 133992 (Minn. Ct. App. Jan. 12, 2015), the Minnesota Court of Appeals affirmed a Le Sueur County District Court ruling that two shareholders acted in bad faith when they refused to buy out a minority shareholder’s interest in one company unless he agreed to sell his interest in […]