Summary
The Pennsylvania Superior Court affirmed the lower court’s decision rejecting an oral forfeiture clause, which limited the valuation of a departing shareholder’s stock to the return of his initial capital contribution if the shareholder competed.
Louis J. Capozzi, Jr. v. Latsha & Capozzi, P.C., et al.
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See Also
Oral Forfeiture Clause Valuing Stock at Amount of Initial Capital Contribution Void
The Pennsylvania Superior Court affirmed the lower court’s decision rejecting an oral forfeiture clause, which limited the valuation of a departing shareholder’s stock to the return of his initial capital contribution if the shareholder competed.