Texas  |  Securities Law

Legal Question

Asked on: 4/18/02, 8:41 pm

Minority Shareholder Diluted

I am an minority shareholder in a closely held corporation. An initial private placement was made last year but not all the shares being offered were sold. Now the company is making a second private placement but the majority owner of the corp is diluting the existing shareholders for the new offering. Should't he sell the remaining shares of the first offering before diluting the first round investors.

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