NSW Commercial Law - Obligations of Founders to Investors?

Australia's #1 for Law
Join 150,000 Australians every month. Ask a question, respond to a question and better understand the law today!
FREE - Join Now

Jonwindles

Member
5 November 2019
2
0
1
I invested in a private company. The last months have not been great, however, the founder did tell me they could get things back on track and the share price could get back to where I was promised it should be. He, however, stated he would rather focus on other companies he has and sell as soon as possible. He does not want to put the time in.

He confirmed he would accept a price which would mean I would lose money on my initial investment. I do not believe at this price he loses money on his investment in the same company. I invested in good faith and it feels like that is not being reciprocated. Do I have any legal protection under Commercial Law?