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Johnson & Bell Shareholder, Mark D. Belongia, resolved an ownership dispute that earned their client an above market return on his ownership stake.  In this dispute, Johnson & Bell’s client was a partner in several companies that owned restaurants. At a meeting of the shareholders in which our client couldn’t attend, the other shareholders of the companies (two brothers) voted to surrender our client’s shares – a development the two brothers kept secret from our client for more than a year.  Once we filed an action for an inspection of the books and records, it was discovered that his shares had been illegally surrendered.  Our team then filed an amended lawsuit for breach of fiduciary duty against the other investors, for fraud, as well as claims that the other investors violated the Illinois Business Corporation Act.  Ultimately, the defendants agreed to pay our client an above market dollar amount to settle the litigation which included all attorney’s fees.  In addition, they agreed to grant full indemnification to our client on all existing personal guarantees, including a PPP loan. 

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