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Posted Feb 1st, 2012
if i buy a company that has been fined for labor issues will i be held resposable for the fine or
will the old owner have take care of them



Legal Topic Area: Business Law in CA

Assuming you are buying stock in a corporation (or membership interests in a limited liability company), as a general matter the entity -- not its owner -- will be responsible for these fines. You can vary this result by agreement with the seller. Your attorney can assist you in properly documenting the transaction to achieve the result you wish.


Answered on Feb 1st, 2012 at 9:37am