Fred Polak Settles Shareholder Claim for $2,000,000
August 6, 2018
Fred Polak recently settled a shareholder dispute on behalf of a widow who had signed an agreement for the redemption of shares in a closely held corporation after her husband died. The widow was the sole heir of her husband’s estate. Fred contended that the widow was fraudulently induced to sign over her shares of the corporation for an amount that was substantially less than their true value. The matter was complicated by the existence of a shareholder’s agreement that set the price per share upon the death of a shareholder. Associate, Michael Martello worked closely with Fred and his help was instrumental in reaching a successful conclusion to the matter. The amount of the settlement was $2,000,000.