Michigan Does Not Recognize Continued Employment or Board Membership as Closely Held Shareholders’ Rights

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Legal and Court Case Update
July 29, 2004

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judicial dissolution
Robert A. Franchino v. Richard Franchino
No. 244878 (Mich. App. 2004)
US
State Court
Michigan
Court of Appeals

Summary

The Michigan Court of Appeals determined that a shareholder in a closely held company could not recover under the oppression statute, MCL 450.1489, when he is removed from the board of directors and fired from the company.

See Also

Robert A. Franchino v. Richard Franchino

Full Text of Court Cases
July 29, 2004

The Michigan Court of Appeals determined that a shareholder in a closely held company could not recover under the oppression statute, MCL 450.1489, when he is removed from the board of directors and fired from the company because the action did not affect ...