- Acumen Powered by Robins Kaplan LLP®
- Affirmative Recovery
- American Indian Law and Policy
- Antitrust and Trade Regulation
- Appellate Advocacy and Guidance
- Business Litigation
- Civil Rights and Police Misconduct
- Class Action Litigation
- Commercial/Project Finance and Real Estate
- Corporate Governance and Special Situations
- Corporate Restructuring and Bankruptcy
- Domestic and International Arbitration
- Entertainment and Media Litigation
- Health Care Litigation
- Insurance and Catastrophic Loss
- Intellectual Property and Technology Litigation
- Mass Tort Attorneys
- Medical Malpractice Attorneys
- Personal Injury Attorneys
- Telecommunications Litigation and Arbitration
- Wealth Planning, Administration, and Fiduciary Disputes
Acumen Powered by Robins Kaplan LLP®
Ediscovery, Applied Science and Economics, and Litigation Support Solutions
-
March 18, 2024Robins Kaplan Named Minnesota Firm of The Year by Benchmark Litigation
-
March 12, 2024Anthony Froio Elected Chair of Executive Board and Managing Partner of Robins Kaplan
-
March 12, 2024Robins Kaplan Recognized in 2024 World Trademark Review 1000
-
March 17-20, 2024PLRB 2024 Claims Conference
-
March 26, 2024Generative AI Generates Debate
-
May 2-3, 2024ACI Advanced Forum on Managed Care Disputes and Litigation
-
March 2024Do We Have to Share That Information? Attorney-Client Privilege in the Multi-Entity Context
-
March 2024Sellers of a Business: Know Thyself.
-
March 2024Unintended Consequences: Don’t Forget the Litigation Risks When Getting a Deal Done
-
September 16, 2022Uber Company Systems Compromised by Widespread Cyber Hack
-
September 15, 2022US Averts Rail Workers Strike With Last-Minute Tentative Deal
-
September 14, 2022Hotter-Than-Expected August Inflation Prompts Massive Wall Street Selloff
Find additional firm contact information for press inquiries.
Find resources to help navigate legal and business complexities.
Bremer Bank Employee-Shareholders File Class Action Lawsuit Against Three Trustees of Otto Bremer Trust
January 8, 2020
National Trial Firm Robins Kaplan LLP announced today that it has filed a class-action complaint on behalf of a group of 16 employee-shareholders of Bremer Bank against three Trustees of the Otto Bremer Trust for breach of fiduciary duty and shareholder oppression. These employee-shareholders represent hundreds of years of service to the bank and hail from locations throughout the region.
“Today’s action seeks to stop the Trustees’ attempted seizure of the employee-shareholders’ voting rights,” said Richard Allyn, partner at Robins Kaplan. “For the last 30 years, the employees of Bremer Bank have controlled its destiny as majority voting shareholders, and they have nurtured and grown the bank into a landmark financial institution that serves local communities throughout Minnesota, North Dakota, and Wisconsin. The Trustees’ efforts to seize voting control of the bank away from its employees and force a sale is unlawful and contrary to Otto Bremer’s vision for the bank to serve local communities and return the bank’s profits to those communities through grants, gifts, and charitable work.”
The 30-page complaint filed in Ramsey County District Court alleges that the defendants breached their fiduciary duties by attempting to strip shareholders of their voting control through a series of prohibited share transfers in pursuit of their own selfish interests. The complaint also alleges that the actions of the defendants make it clear that the purpose of the transfers is to push through a sale of Bremer Bank, contrary to the best interests of the bank.
“Majority voting control by the bank’s employee-shareholders has been a defining characteristic of Bremer Bank.” Allyn said. “Our clients—the employees of the bank from all over Minnesota, up to Fargo, North Dakota—have one goal in mind: preserving this wonderful bank and allowing it to continue to serve the communities where the bank’s resources are so critically needed.”
The plaintiffs are seeking a declaration from the court that the purported transfers of shares are unlawful and ineffective. They are also seeking a court order to prevent any further attempts to undermine their voting interests.
Related Publications
Related News
If you are interested in having us represent you, you should call us so we can determine whether the matter is one for which we are willing or able to accept professional responsibility. We will not make this determination by e-mail communication. The telephone numbers and addresses for our offices are listed on this page. We reserve the right to decline any representation. We may be required to decline representation if it would create a conflict of interest with our other clients.
By accepting these terms, you are confirming that you have read and understood this important notice.