I am a shareholder in a corporation in Texas. I have been removed from the management team and a meaningful roll in the company for no cause. The board of directors also elected to sell off assets of the company without shareholder approval. It's seems that a few are trying to implement new policies to make the others want out, including me. This is just the tip off the iceberg. I'm starting to melt. Are there punitive damages for minority shareholder oppression in Texas? Any thoughts?

The board of directors can take any action as long as it is approved by a majority of shareholders. The board may already hold enough shares and proxies to act without a formal vote. If that's the case, then they are doing nothing illegal.

If you want to fight them you need to get a majority of shares and proxies.

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Originally Posted by Rhino678

... This is just the tip off the iceberg. I'm starting to melt. ...

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You really know how to turn a phrase there. :)

But "roll" in the sense you mean it should be spelled "role".

Quote:

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Originally Posted by Rhino678

... ... Any thoughts?

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Look into calling an emergency shareholder meeting for the purpose of removing the directors whose actions you disagree with.

Duh. Yes, role... $"! )! Autocorrect!