When Majority Owners Turn on Their Partners In closely held corporations and limited-liability companies, majority owners sometimes forget that they owe duties to their partners. We see the same pattern again and again: a founder who built a business is gradually cut out of key decisions, denied access to financial…
The Dream of Owning a Business — and the Nightmare That Followed Some of our business clients come to us after realizing that the dream business they purchased is nothing like what they were sold. One of our current matters involves a small investor who purchased a business after reviewing…
The New Reality: Accusations Before Investigation In the modern environment, a single social-media post can trigger a storm of attention, formal investigations, and sometimes a lawsuit. We have dealt with this type of situtation in many of our lible and business control cases. Our firm represents pleaintiffs and defendants in…
Why Forensic Accounting Matters in Complex Business Fraud Civil RICO and serious breach-of-fiduciary-duty cases live and die by the numbers. It is not enough to allege that a business partner or investment promoter “took money”; you have to show how funds moved, which entities were involved, and how those transactions…
Overview Few things are more devastating than being falsely accused of abusing a family member or former partner. We have represented libel clients on both sides of these disputes as plaintiffs or defendants. Often, the accusations did not go to law enforcement; instead, they spread through social media or phone…
Summary: After a founder dies, survivors often pivot from “we have a buy‑sell” to “we can force a redemption under the articles.” Courts care about doing it right—and about protecting the estate’s reasonable expectations. Start with the contract you actually signed.A written buy‑sell controls if it exists and is enforceable.…
Summary: Law firms and professional companies are businesses too. When lawyer‑owners divert funds, freeze out a co‑owner, or weaponize firm control, a derivative suit or oppression claim can be the right tool—if you respect both corporate law and the professional‑ethics overlay. Typical patterns we see: Unilateral transfers disguised as “distributions”…
Summary: Derivative suits let owners enforce the company’s rights when insiders won’t. Done right, they’re powerful. Done wrong, they’re dismissed. Here’s a field guide for LLCs and closely held corporations. Who can sue and when? LLCs: Members may sue derivatively under 805 ILCS 180/40‑1 when managers/members harm the company. Relief…
Summary: When a co‑member changes the banking logins, blocks your access to the general ledger, or tells employees not to speak with you, it’s not just bad behavior—it’s a legal emergency. Here’s what to do right now. 1) Treat it like a TRO/Preliminary‑Injunction case.Illinois courts can order interim relief that…
The scenario we see: An employee resigns, lands a new role, and—right on cue—the former employer calls the new company or key clients, waving a non‑solicit or a boilerplate non‑compete that’s far broader than Illinois law allows. If that pressure campaign derails a known offer or triggers a firing, our…