{"id":4177,"date":"2014-09-11T10:00:20","date_gmt":"2014-09-11T15:00:20","guid":{"rendered":"http:\/\/injury.robertkreisman.com\/?p=4177"},"modified":"2014-09-10T09:33:36","modified_gmt":"2014-09-10T14:33:36","slug":"u-s-court-appeals-finds-claims-individual-shareholder-derivative-corporation","status":"publish","type":"post","link":"https:\/\/www.robertkreisman.com\/injury-lawyer\/u-s-court-appeals-finds-claims-individual-shareholder-derivative-corporation\/","title":{"rendered":"U.S. Court of Appeals Finds that Claims of an Individual Shareholder are Derivative to the Corporation"},"content":{"rendered":"

Fortunee Massuda was an investor in a group of Panda Express<\/a> restaurants in Chicago. The restaurants were owned by a joint venture, RC Partnership, made up of Panda Express Inc. and Rezko Concessions Inc. Massuda invested $4 million in the joint venture in exchange for an ownership interest of 11% in the joint venture. The joint venture also owned and controlled PE Chicago, a Delaware LLC. By the year 2001, the value of the RC Partnership was estimated to be $56.4 million.<\/p>\n

By 2005, Rezko Concessions\u2019 owner, Tony Rezko<\/a>, was in deep financial and legal trouble. In April 2006, Massuda went to Panda and informed it of her intent to sue Rezko and asked whether Panda would be interested in buying her 11% share. Panda\u2019s general counsel declined the offer and instead told Massuda that her stake was worthless.<\/p>\n

In mid-May 2006, Rezko was urgently in need of money. In order to secure funds, Rezko offered to sell PE Chicago\u2019s interest in RC Partnership to Panda. Panda agreed to pay Rezko $3 million, keep the deal between them secret and grant Rezko personally a buy-back option.<\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fortunee Massuda was an investor in a group of Panda Express restaurants in Chicago. The restaurants were owned by a joint venture, RC Partnership, made up of Panda Express Inc. and Rezko Concessions Inc. Massuda invested $4 million in the joint venture in exchange for an ownership interest of 11% in the joint venture. The […]<\/p>\n","protected":false},"author":795,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"enabled":false},"version":2}},"categories":[41,49,134,133,83,42],"tags":[],"class_list":["post-4177","post","type-post","status-publish","format-standard","hentry","category-breach-of-contract","category-business-litigation","category-commercial-litigation","category-contract-litigation","category-corporate-law","category-federal-jurisdiction"],"yoast_head":"\nU.S. Court of Appeals Finds that Claims of an Individual Shareholder are Derivative to the Corporation — Chicago Injury Lawyer Blog<\/title>\n<meta name=\"description\" content=\"Fortunee Massuda was an investor in a group of Panda Express restaurants in Chicago. 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