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.
See Also
Louis J. Capozzi, Jr. v. Latsha & Capozzi, P.C., et al.
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.