Legal Question in Business Law in Pennsylvania

i have 5% shares in a restaurant that i worked at i gave notice and left i was told that my shares didn't have to be purchased back ( they were gifted to me as a bonus for longevity and excellent work) the dividens i recieved were payment enough i did recieve a k-1 for taxes do i have a claim for my 5% of shares have to be purchased back by the company

Asked on 11/11/12, 5:36 pm

1 Answer from Attorneys

Sharmil McKee McKee Law Office

The answer depends on the bylaws or the shareholder agreement you signed when your accepted the shares. It also depends on the type of shares you own and if the corporation issued special shares for employees. You should take all your documents to a lawyer to discuss your options because you have many rights.

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Answered on 12/06/12, 1:16 pm

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