Protections for Minority Owners/Shareholders of Corporations in North Carolina
August 15, 2011
North Carolina law allows a minority shareholder to bring a lawsuit that could allow a Court to order the dissolution and sale of the company assets or a forced buy-out of the minority shareholder in order to protect the rights of an individual in a close-corporation. If the minority shareholder can prove that they had reasonable expectations that were known or assumed by other shareholders, that those expectations had been frustrated, that these frustrated expectations were out of the shareholder’s control, and that the specific circumstances of the company require equitable relief from the Court, a minority shareholder can gain protection for their investment from the control of the majority ownership.
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