Saliterman & Siefferman attorneys represent plaintiffs and defendants, individuals and entities, related to disputes among shareholders and owners in privately owned entities and publically traded entities.
Disputes between owners of privately owned entities often involve claims of breach of fiduciary duty, unfairly prejudicial conduct giving rise to a statutory fair value buyout, violation of bylaws or corporate governance documents, statutory dissenter’s rights, and other statutory and related common law causes of action. Saliterman & Siefferman attorneys have successfully litigated these disputes in Federal and State Court and through Arbitration.
Disputes involving ownership of publically traded companies between the shareholders and entities or between shareholders and broker dealers often involve claims under the Securities Exchange Act of 1934 as amended by the Dodd Frank Act, related state Blue Sky Laws, and breach of fiduciary duty. Saliterman & Siefferman attorneys have successfully litigated these disputes in Federal and State Court and through FINRA and AAA Arbitration.
The Firm provides services in the following areas to businesses of all size:
- Tax Filing and Payment Proceedings brought by Wrongful Termination of Manufacturer Representatives, Governmental Authority
- Security and Business Investigation by Government Authority
- Securities Fraud
- Breach of Contract
- Shareholder Litigation against other Shareholders
- Shareholder Litigation against Creditors
- Shareholder Litigation against Government Authority
- Officer Termination Litigation
- Employee Termination (including owner/officer employee)
- The Firm represented a Connecticut based minority shareholder and former Chairman of the Board of Directors against a major geospatial mapping technologies company for claims of breach of fiduciary duty and other statutory and common law shareholder protections. The ten-day Trial resulted in Judgments against each of the seven defendants in favor of the Firm’s client.
- The Firm represented a founding shareholder of a Minnesota based Department of Defense Contractor in a case involving minority shareholder claims for breach of fiduciary duty, dissenter’s rights, unfairly prejudicial conduct and employment whistleblower claims. The Firm represented the shareholder through litigation and resolved the dispute on terms favorable to the client including a continuing business relationship between the defendant company and the Firm’s client.
- The Firm represented the plaintiff in the first major corporation share transfer litigation of a Minnesota Professional Corporation’s shares or ownership units in Minnesota. This case was eventually decided by the Minnesota Supreme Court and established new law regarding transferring shares in a professional corporation absent a share purchase agreement.
- The Firm successfully represented president and major shareholder of a close corporation that owned and operated an airport aircraft service and fixed flight facility in Minnesota.
- The Firm successfully represented major owner of chain of Italian and European restaurant in shareholder dissolution litigation.
- The Firm represented a California based investor and capitalizer of a geospatial mapping and technologies company for breach of contract. The Firm assisted in resolving the litigation on terms favorable to the client, including negotiating and drafting a software licensing agreement.
- The Firm successfully represented a securities brokerage employee in a whistle blower action under Securities Exchange Act of 1934 as amended by the Dodd Frank Act in which the securities broker was unlawfully terminated for cooperating with an SEC investigation against a large Minneapolis based brokerage house.
- The Firm successfully represented an investor regarding claims of breach of fiduciary duty and related state and federal statutory claims against a New York based brokerage.
- The Firm has represented client in major litigation and settlements against major securities/investment advisors in Minnesota based on fraud, breach of contract, and breach of fiduciary duties.