Partners owe high duties of loyalty to each other and to their partnership businesses. Officers and directors in small corporations, likewise, owe high duties of loyalty to their corporations and to their shareholders, particularly to their minority shareholders. Sadly many partners, officers and directors disregard their duties of loyalty and seek benefits for themselves – at the expense of their partnerships, their corporations or their shareholders. Such wrongful conduct often results from the desire to make money without having to share it with others or the desire to rid a company of unwanted participants.
The law provides many ways to remedy wrongs done to a partnership or corporation. The law contains claims for breach of fiduciary duty and fraud to punish partners who, while ignoring their duties of loyalty, have hurt their partners or partnerships. And for corporations, the corporate bylaws, the Business Corporations Act, and the various claims for breach of fiduciary duty work together very effectively in order to hold accountable errant officers and directors who have breached their duties of loyalty. Minority shareholders and freezed-out shareholders receive special protections.
The Schmidt Firm, PLLC has significant experience in disputes arising within partnerships or within small corporations. We pursue the right strategy for the client – thereby structuring the case for early settlement, preparing the case for summary judgment, or pushing the case to trial.
The Schmidt Firm, PLLC has been recognized as one of the nation’s leading plaintiffs' law firms and handles cases in all 50 states. We are very proud of our legal achievements, but equally self-respecting of our firm's reputation for providing personal attention to each and every client we represent.
