Business Law and Litigation | Wernette Heilman PLLC
Your business is deeply interwoven with your life. So when issues arise – shareholder, member, and partner disputes, breach of fiduciary duties, trade secrets, non-competition agreements, non-solicitation agreements, fraud, unfair competition – the advice and vision of steady, seasoned legal counsel is critical. Wernette Heilman PLLC attorneys, Mike Wernette and Ryan Heilman, can guide you to the resolution you need, in or out of court.
- Recovered a settlement of over $200,000 for an industrial coatings company against a faithless group of key employees in a breach of fiduciary duty case.
- Obtained a favorable settlement for a minority limited liability company member against the limited liability company and its other two members, who had attempted to make disproportionate distributions from the company. Attempts to negotiate with the majority member group went nowhere — they refused to budge. Attorney Mike Wernette filed suit against them on behalf of the minority member, coupled with a motion for summary disposition. The majority members quickly settled and made up the full shortage in distributions to Mr. Wernette’s client.
- Negotiated a buyout for a minority member of a limited liability company in the aerospace parts manufacturing industry. The minority member, proceeding without counsel, had agreed to close his small company and contribute all of its assets, customers, work in process, and equipment to a new limited liability company in exchange for a 30% membership interest, and also signed a non-compete agreement with the new company. Shortly after the new company’s launch, the 70% member, a large automotive parts manufacturer, began to freeze out the minority member, demoting him to maintenance work, locking him out of access to financial reports, and more. The minority member realized he had contributed his life’s work into a company under the control of a faithless partner. With few rights under the operating agreement, the minority member was referred to attorney Mike Wernette for help. Mr. Wernette counseled against filing suit right away, and instead opened negotiations directly with the general counsel of the 70% member while holding the threat of a lawsuit as a chip. The matter resolved out of court with the minority member receiving a cash buyout equal to the value of his capital contributions, and a release from his non-compete agreement, subject only to protection for a limited number of parts programs to be left at the company.