Legal Question in Business Law in Illinois

What is the difference between a 'major shareholder' and a 'majority shareholder' in a firm, in accordance with the US law. Please be specific and give numbers.

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Asked on 9/09/13, 2:20 am

1 Answer from Attorneys

Michael R. Nack Michael R. Nack, Attorney at Law
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A majority shareholder owns enough shares to control shareholder votes, such as the election of directors in most simple corporate structures. A major shareholder would be someone who owns a substantial percentage of issued shares. Many factors, such as the possibility of cumulative voting, different voting rights for different classes of shares, and others may make a big difference. Whatever your situation is, you should seek individual legal advice from an experienced attorney who will review the controlling documents and law in order to provide you with specific legal advice.

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9/11/13, 7:14 pm

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