I bought shares from a private company 18 months ago and never received a single update about share value, etc. The company hasn't sent any financial reports to any investors, even when asked. I want to sell the shares back to the company or another investor. Nobody replies to my calls nor emails, but I know they're still in business. Are they breaking any law? What can I do? I'm stuck. Thank you.
1 Answer from Attorneys
Because the company is private, it's difficult to say if they are "breaking any laws" or breaching any commitments to you without knowing the state of incorporation, the type of company it is, your relative % of the outstanding stock, any shareholder agreements that you may have signed and the bylaws of the company, among some.
Realistically you will need to retain an attorney to review the above and then have the attorney contact the company in a proper manner. This review should not be expensive and will give you a much clearer picture of the situation.
Feel free to contact my office at your earliest convenience for help in the matter.
Roman R. Fichman, Esq.
www.TheLegalist.com │ @TheLegalist
email: Info (@) TheLegalist (dot) com
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