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Dolan Williams
Dolan Williams,
Category: US Law
Satisfied Customers: 71935
Experience:  Law Office of Dolan M Williams at Attorney
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I have a question regarding an LLC in Chicago, there are

Customer Question

hello
JA: Hi. How can I help?
Customer: I have a question regarding an LLC in Chicago, there are many shareholders, several hold the majority of shares. individually the minority shareholders don't hold much but together can they have any influence, protection of rights. Is there a % they need to hold eg 15%?
JA: What state are you in? It matters because laws vary by location.
Customer: Chicago, I am one of minority shareholders
JA: Has anything been filed or reported?
Customer: yes accounts for several years trading
JA: Is there anything else the Expert should know before I connect you? Rest assured that they'll be able to help you.
Customer: company is going IPO and minority shareholders are not being informed , majority guys are acting without informing us
Submitted: 21 days ago.
Category: US Law
Expert:  Virtual-mod replied 21 days ago.
Hello,

I've been working hard to find a Professional to assist you with your question, but sometimes finding the right Professional can take a little longer than expected.

I wonder whether you're ok with continuing to wait for an answer. If you are, please let me know and I will continue my search. If not, feel free to let me know and I will cancel this question for you.

Thank you!
Expert:  Dolan Williams replied 17 days ago.

Hello! Thanks for using JustAnswer. My name is ***** ***** I am an attorney ready to answer your questions with top-quality service. Just a few quick things before we get started:

  • I’m sorry to hear you are having these problems with your legal issue. I know that can be frustrating. However, we can get this resolved quickly;
  • We are transitioning to a new system to better serve you, so there may be a slight delay in my responses. Your patience is greatly appreciated.

Do the minority shareholders have any voting rights?

Expert:  Dolan Williams replied 17 days ago.

So I haven't heard back from you in a while on this, which is no big deal!

Without the information I asked for, I can only give you a general answer.

So the short answer to your question is that there exists no specific minimum % of shares a person needs to have voting rights in the biz. Most companies restrict those with a certain percentage from voting, but it's not a hard and fast rule.

Generally, there are several ways you can increase your voting rights:

1. Invest more into the company;

2. Buy shares of your partners;

3. Convince voting partners to give minority shareholders a vote.

Please let me know if this has answered your question fully. My goal is to ensure you’re satisfied with my service completely.

Expert:  Dolan Williams replied 17 days ago.

Hello! I just wanted to check in to see if you had any follow-up questions for me about this today.

Expert:  Dolan Williams replied 15 days ago.

pi3

Expert:  Dolan Williams replied 15 days ago.

Hello! I just wanted to check in to see if you had any follow-up questions for me about this today.

Expert:  Dolan Williams replied 15 days ago.

So I haven't heard from you in a while, but that's ok! Thank you for trusting JustAnswer with your question. If you have any additional concerns or need me to clarify anything, please let me know. I am happy to help.

My name is ***** ***** I go by Legal Eagle on this site.  Once you log back in, you can go to the “My Questions” page, and you’ll see our conversation. There, you will have a chance to “Request Legal Eagle”.  Type in your question, and it comes to me. You can also click the link below. https://www.justanswer.com/law/expert-dmwesq/

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