Shareholders & Securities
Since 1990, founding partner William M. Audet has been litigating shareholder/securities litigation against some of the largest corporations in the United States. During that time, Mr. Audet, working with other attorneys, have not only recovered hundreds of millions of dollars for his clients, but has also in shareholder derivative litigation, forced Board level changes to company practices and accounting by way of settlement and Court orders. In the past few years, Audet & Partners, LLP has focused its work on in this area on shareholder litigation related to mergers buyouts and bad faith issues. With the rise of IPO’s, the issue of minority buy outs (or forced out) and dissolution of founder/initial contribution is a new area of law that requires a dedicated and experienced attorney such as Mr. William Audet.
In the past, the firm has filed claims for breach of fiduciary duty due to the fact that the company’s directors and officers caused the company to violate the law or engaged in other activities, exposing the company to criminal or civil penalties, massive losses, and damaging litigation such as securities fraud class actions. The fiduciary duties owed to a corporation by its directors and officers include the duties of due care and loyalty, and require directors and officers to obey the law (and cause the corporation to obey the law). In the past, we have filed cases in which the insiders obtained a corporate opportunity for personal gain without giving the corporation the chance to take full advantage of that opportunity, among other breaches. If you are a shareholder of a corporation which has been harmed through a breach of fiduciary duty by its officers and directors, or you have been ‘pushed out’ without sufficient compensation, you should seek our firm’s legal counsel.