Washington  |  Business Law

Legal Question

Asked on: 11/23/05, 2:44 pm

Share Holder Working For The Corporation

I am a share holder in a corporatin in Wa. state that operates a Fitness Club. I am a triple certified trainer and train at this facility. The Corp. is less than two years old, and the two directors retain the majority of the shares. In the begining I was paid a wage. Then it stopped. When I ask for compensation, they tell me I'm a shareholder and my compensation for my hours worked will be my divedends. They said since I was a shareholder, I was exempt from wages. Is that true? I'm owed over $70000.00 in back wages and my shares are minimal.

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