One of the Directors of a corporation remove himself from the company because of reasons of illegal, reckless and insubordinate conduct of another Director's relatives, who are currently employees of the corporation. Do we have a legal case against the Director who removed himself from the company, he is requesting his investment back and the Corporation accounting records, can we withhold these information from him although he was away from the company the past two months.

Can a Corporation refuse to show all accounting records to an officer/Director even though she removed her self from the company because of illegal and reckless conduct of other directors.

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Originally Posted by numberlock

Do we have a legal case against the Director who removed him self from the company, he is requesting his investment back and the Corporation accounting records, can we withold these information from him although he was away from the company the past two months.

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Hello number:

I don't know if you have a case against him or not. You certainly didn't state grounds for one in your question... If the RELATIVES have a case, then that's THEIR case against him It has nothing to do with the corporation, unless of course, they sue the corporation too.

He invested in stock. If you wish to buy back his stock, at greatly reduced prices, you certainly can. But, I'd never pay his price because he demanded it. As long as he's NOT an employee or officer of the corporation, he doesn't have any rights to see the accounting records either...

excon

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Originally Posted by excon

... As long as he's NOT an employee or officer of the corporation, he doesn't have any rights to see the accounting records either...

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Wrong.

A shareholder of a corporation does have the right to see the books.

Please post your question just once with ALL of the pertinent information.

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Originally Posted by AK lawyer

Wrong.

A shareholder of a corporation does have the right to see the books.

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Does making an investment in the company make him a shareholder? I thought those were two different things. I have invested in a company without receiving shares of stock.

I have combined your two posts,
Please do not start a new thread to add more info, this is not a blog. To add more info, place it in a "answer" to your own question