How to force a shareholder meeting?

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How to force a shareholder meeting?

I am VP of a FL corporation with 55% shares. The actual president never filed any tax returns since 2007 nor wanted to have a shareholders meeting. How can I force a shareholders meeting and have him removed? How long does it take? We entered a stock redemption agreement for me to buy his shares, but he did say that he took money as dividends in advance, slanting the valuation. Can it be considered as mismanagement

Asked on December 16, 2010 under Business Law, Florida

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

Well now you are going to think that because this is a legal site all us lawyers do is encourage lawsuits.  But really resolving the issues outside of court is the best thing for all parties.  Unfortunately I do not think that that would work with you.  This President needs to be forced in to action and to be held accountable.  So take your documents to an attorney in your area to make sure that you have "standing" to sue and then bring a lawsuit to force the shareholder meeting and to hold the president accountable.  It will be long and expensive and it is doubtful that any of the fees may be recoverable but maybe.  You should definitely ask.  Good luck to you.   


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