What to do if I own 20% of a multi-million dollar company but the 60% owner refuses to pay me my dividends because of a personal conflict?

What type of lawyer would I need to handle this kind of dispute?

Asked on October 29, 2014 under Business Law, Colorado

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

You would want a litigator (someone who handles lawsuits, not someone who just draws up contracts and forms businesses) with experience in business or corporate litigation. You can sue the majority owner for breach of his or her fiduciary obligations to minority owners; while the law allows the majority owner(s) to control a business, they have to treat fairly with minority owners and cannot unilaterally refuse to pay amounts or sums which they are due.


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