[WSBARP] Minority Shareholder Opens Competing Business

[Jeff Davis]

Listmates,

 

This is an off topic issue for both listservs but I think some of you may
have ideas that will help (or tell me there is no recourse).  Clients
(husband and wife) opened a family plumbing business and put it into a C
Corp.  Subsequently they granted shares in the corporation to three
children, but retained control.  There is no shareholder buy-sell agreement.
One son has now opened a competing business and is actively trying to divert
business from the clients.  I see nothing in RCW 23B.06 .07 dealing with
this problem.  Clients would like to force their son to either give back his
stock or buy it back.  Is there any theory under which this can be
compelled?

 

Jeff Davis

 

W. Jeff Davis, Esq.

BELL & DAVIS PLLC
P.O. Box 510
Sequim WA 98382
Phone No.:(360) 683.1129 
Fax No.: (360) 683.1258 
email:  <mailto:info at bellanddavispllc.com> info at bellanddavispllc.com
 <http://www.bellanddavispllc.com/> www.bellanddavispllc.com
 
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