The exclusion of a shareholder of a SAS pursuant to a by-laws clause contrary to applicable public policy provisions is null and void
In a judgment dated July 9, 2013[1], the Cour de Cassation (French Supreme Court) has recalled that in sociétés par actions simplifiées (Simplified Joint Stock Companies or “SAS”) a shareholder whose exclusion is contemplated may not be deprived of his right to participate in the decision and to cast a vote on the exclusion resolution […]