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August 12, 2014

Michigan Supreme Court: shareholder-oppression claims against directors and officers don’t get juries

In Michigan, minority shareholders in closely-held corporations can sue directors and officers for illegal, fraudulent, or willfully unfair and oppressive actions. If successful, the oppressed shareholder can get relief ranging from damages to dissolution of the corporation. But who decides whether the shareholder was oppressed and, if so, what the appropriate relief should be? The…

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