IslandGirl
08-03-2007, 02:08 PM
I recently sold my interest in a business (50% of all stock) to one of my employees, who promptly sold the stock to my ex-husband (and former partner's) brother. I believe this was fully planned out in advance in order to get me out of the business. I have tried to work out sale terms to my ex in the past, but he wanted me to accept personal financial responsibility for any issues that "may arise - known or unknown" to me, and I wouldn't sign that! Is it legal to have an "under the table" transaction going on in order to essentially force someone to sell their stock, and at a lower price? I did want out of the business - being partners with your ex is difficult - but would have sold to my ex-borther in law directly. He had previously offered me a price that was significantly higher than what I got - he just set terms that were so unreasonable I couldn't possibly agree to them, then set me up to sell at a much lower price to someone else, so that he could turn around and buy it from her immediately. Again, is what they did legal???????????