If the founding shareholders all passed a resolution to cancel 10 new shareholders

| March 14, 2016

Question
If the founding shareholders all passed a resolution to cancel 10 new shareholders’ class right that attached to the shares to allow new shareholders to purchase additional shares at a discount price, and there are 8 new shareholders also agree to cancel this right because they are those funding shareholders’ spouses and they agree to cancel right for family harmony. The other 2 new shareholders did not agree to cancel this rights. these 10 new shareholders purchase their shares when the company was in a financial difficulty. What kind of equitable remedies could be used by those 2 new shareholders? If one of these 2 new shareholders has started a competing company, is that ok? Is a shareholders allowed to open a competing company against the original company?

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