1. Billy Helm and his wife Betty were the directors, officers, and 54% shareholders of TimeNews, an Indiana corporation that published a magazine in the city of Bloomsdale. Olaf Oshe, who owned the remaining 46% of stock, sold his shares to Edna Newton for $30,000. Edna had no contact with the Helms prior to her purchase and knew she would become a minority shareholder in the corporation. However, she believed that by purchasing the stock, she would have some level of involvement in TimeNews and would receive dividends from the net profits. In the years following, no dividends were paid as profits were used to reinvest in the magazine. Edna never sought employment with TimeNews but did make one unsuccessful attempt to be elected as a director. After the failed attempt, she stopped attending the shareholder meetings. 
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3. May Edna sue the Helms and/or TimeNews for treating her in an unfair manner and force them to purchase her stock at a fair market value?

Answer rating: 100% (QA)

Based on the information provided Ednas legal options may be limited In general minority shareholders in a closely held corporation like TimeNews have ... View the full answer