COMM 431 Chapter Notes - Chapter 10: Derivative Suit, High Standard Manufacturing Company
Document Summary
Blair, william and sherman valgardson are brothers who are the directors and sole shareholders of. Rivers cattle ltd. and vauxhall sand & gravel ltd. william and sherman are also directors and sole shareholders of riverbend products ltd. The brothers inherited the three companies from their parents, under the condition that profits from. In 2003, they signed a settlement agreement where the parents give up any claims they have on the (cid:271)rothers a(cid:374)d ri(cid:448)ers, as (cid:449)ell as setti(cid:374)g (cid:272)o(cid:374)ditio(cid:374)s for ri(cid:448)ers" eventual dissolution. The three companies originally had separate finances, but they were joined together under the advice of an account in 1990. In 2003, blair starts an action to seek relief from oppression by sherman and william, contending he"s a. 33. 3% shareholder in riverbend - this action moves forward. In 2006, he also starts a derivative action on behalf of rivers and vauxhall.
