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I am employed by a family owned business that was recently purchased by a large overseas company. I was on the board of directors but during the sale was replaced by a family member. There was no vote or knowledge on my part that this had happened. Was this illegal and do I have any recourse?

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One would have to review the documents in connection with the transfer of ownership of the business, but it's unlikely that any removal of you as a director was illegal or that you'd have any recourse.  Were you receiving compensation for serving on the board in addition to what you received as an employee?

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Hi @salty1020


Welcome and thanks for posting! This could be quite a complicated issue. It might depend on the articles of incorporation or bylaws of the business, and it could also be impacted by the terms of the acquisition agreement. Are you in contact with your company's corporate counsel, or have you considered speaking with independent counsel?

 

The FindLaw.com Team

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