Shareholder’s Rights, Covenants Not to Compete
In Albany Bone & Joint Clinic PC v. Philip D. Hajek MD, the Georgia Court of Appeals ruled on 3/11/05 that a medical clinic’s bylaws, which entitled all departing shareholders to the book value of their stock, did not constitute a financial “penalty” on shareholders who left the clinic to work for a competitor. The corporate bylaws of the clinic did not constitute a non-competition covenant of the sort often seen in employment contracts. See the court’s opinion below.
The Shigley Law Firm represents plaintiffs in wrongful death and catastrophic injury cases statewide in Georgia, and in other states subject to the multijurisdictional practice and pro hac vice rules in each state. Ken Shigley was designated as a “SuperLawyer” in Atlanta Magazine and one of the “Legal Elite” in Georgia Trend Magazine. He is a Certified Civil Trial Advocate of the National Board of Trial Advocacy, Chair of the Southeastern Motor Carrier Liability Institute and former chair of the Georgia Insurance Law Institute. He particularly focuses on cases arising from truck wrecks and accidents (tractor trailers truck wrecks, semi truck wrecks,18 wheeler truck wrecks, big rig truck wrecks, log truck wrecks, dump truck wrecks).