Our Chicago Area Shareholder Disputes Attorney Are Here to Help You

When a business has multiple owners, whether it's a partnership, LLC, or corporation, differing opinions on what is best for the company are inevitable. In corporations with numerous shareholders, especially those not directly involved in daily operations, conflicts can arise between personal financial interests and the company's overall well-being. These disputes can stall management decisions and disrupt operations, leading to delays and missed opportunities. At Lubin Austermuehle, our experienced Chicago shareholder and partnership disputes attorneys have been resolving these conflicts for over 20 years. We blend legal experience with practical business knowledge to manage and resolve disputes efficiently for our clients.

When disputes arise between business owners, it's crucial to have legal representation that understands the complexities of these conflicts. Lubin Austermuehle offers skilled legal services for all aspects of shareholder, LLC member, and partnership disputes. Our attorneys have extensive experience both defending and prosecuting a wide range of stakeholder disputes and claims, including:

• Conflicts of interest
• Fiduciary Breaches
• Self-dealing
• Derivative Lawsuits
• Minority shareholders rights
• Minority LLC membe rights
• Rights of partners
• Management deadlocks or fundamental disagreements
• Squeeze out or freeze-outs of members or shareholders
• Appraisal rights for a Buy-out
• Claimed excessive compensation by Management
• Unfair buy-out agreements
• Failure to pay dividends or distributions including for personal taxes

Through litigation, arbitration, or mediation, our attorneys aggressively pursue our clients' interests. We also handle investment disputes for financial professionals and investors.

At Lubin Austermuehle, our attorneys in Chicago have four decades of experience advising both companies and individual shareholders involved in management disputes. We understand Illinois business laws and utilize all available dispute resolution methods to settle conflicts effectively while protecting our clients' rights. To discuss your case with an experienced Chicago business law attorney, call us at 630-333-0333 or contact us online.

If you are a minority shareholder in an Illinois corporation, state laws offer robust remedies to resolve deadlocks or shareholder disputes. Section 12.56 of the Business Corporation Act allows shareholders to seek judicial relief under several conditions, including:

• Deadlocked directors or shareholders causing or threatening irreparable harm to the corporation.
• Directors acting in an illegal, oppressive, or fraudulent manner.
• Misapplication or waste of corporate assets.

A court can order various remedies, such as:

• Changing or nullifying corporate actions.
• Amending the corporation's articles of incorporation or bylaws.
• Removing or appointing directors or officers.
• Mandating an accounting of disputed matters.
• Appointing a custodian or provisional director.
• Ordering dividends or damages.
• Requiring the corporation or shareholders to buy out the petitioning shareholder's shares.
• Dissolving the corporation if no other remedy resolves the dispute.

The court can also order a share purchase under fair value terms, taking into account the impact of the dispute on the share value.

Handling shareholder disputes can be complex and requires knowledgeable legal guidance. Lubin Austermuehle, with offices in Oak Brook, Chicago, and Highland Park, provides top-notch legal services for a variety of business disputes in Illinois. Contact us at 630-333-0333 or online to schedule a free consultation and learn how we can help protect your business interests.