Colorado Owner, Officer and Director Disputes Attorneys

When business partnerships can go sideways, you may be able to resolve shareholder disputes through:

• One person buying out the other's share

• Taking legal action if someone didn't do their job properly

• Going to court to enforce business agreements

• Closing down the business

If your fellow business partners or shareholders try to force you out, you’re being “locked out.” This can happen whether you have a major or minor stake in the business. If this is your situation, you do have rights and legal recourse. It’s important to speak to an attorney about your specific circumstances before determining what to do next.

Yes. Shareholders have the right to see their company's financial statements.

In closely held companies, shareholders can access detailed financial records. Public company shareholders receive annual reports. If this is not enough, then those shareholders can also request financial documents in writing. Companies must respond within 30 days. If denied, minority shareholders can demand a written explanation.

The Colorado General Assembly has never passed a statutory definition of what constitutes oppressive, unfair shareholder conduct. However, case law has determined that:

“Burdensome, harsh and wrongful conduct; a lack of probity and fair dealing in the affairs of the company to the prejudice of some of its members; or a … departure from the standards of fair dealing, and a violation of fair play on which every shareholder who entrusts his money to a company is entitled to rely.” Polk v. Hergert Land & Cattle Co., (Colo. Ct. App. 2000)  

Misleading or deceptive statements or actions would certainly fall into a “departure from the standards of fair dealing.”