One might expect that a sheriff's sale of stock pursuant to a writ of execution could not result in a viable claim for conversion by a judgment debtor. A California Court of Appeal, however, has ruled that it could.
Failure To Return Shares Subject To Repurchase Right Supports Conversion Claim
Posted on
April 18, 2017
Closely held issuers often include a repurchase right in their equity award agreements. I expect that in most cases, shareholders will comply with these provisions. When a shareholder doesn't, the company's most obvious cause of action will be for...
repurchase, conversion, Corporate Governance, Executive Compensation, Applied Medical Corp. v. Thomas, buyback rights, Justice Mark B. Simons
