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Category: Law
Satisfied Customers: 21
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Can i sue for deceipt ? i sold my company shares in February

Customer Question

Can i sue for deceipt ? i sold my company shares in February 2011 for 500 k i was told along with my business colleague that this was a good deal , we were told this amount was good value for our shares , we also found out that our shares had been registered as non voting and not voting to our surprise, the company i had shares in was the production arm of the company , Polyurethane Product Production the product we ended up selling was 90 % Polyurethane then the main share holder decided to set up another Company up over this Company and use it as the Sales arm of the company the Profits were then shared between the Companies , the Company finally sold for around the 25 million pound mark.
Can any thing be done ?
This has bothered me since i sold my shares , i sold my shares because i was told if i didnt the production arm of the company would be devalued and i would end up nothing , bully tatics i didnt feel i could fight this as the main share holder has lots of monies , i felt he would do every thing within his power to ruin me if i went against him.
For your information the original partner to this main share holder is currently also trying to sue him for deceipt as he was not told about certain contracts in the pipeline when he sold his shares to the main share holder in 2007.
I had 25 % Ordinary non voting shares and my colleague 10 % and we were not informed of this majority share holders departure from the company .
Paul Boddy
Submitted: 4 years ago.
Category: Law
Expert:  Ash replied 4 years ago.

AlexWatts2013 : Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends and this is not an 'on demand service'. As such you may not get an instant response when you reply, but rest assured I will be giving your question my immediate attention upon return. For now please let me know did we speak about this earlier?
Expert:  Nicola-mod replied 4 years ago.

Just a quick reminder, there is an information request here from the Expert. This means they need to know more details before they will be able to give you a full answer.

Thank you,