Figth at Investment Club

Case 5- Fight at Investment Club, 633

Atinuke Ajayi

DESCRIPTION

The Golden Years Investment Club is a collection 26 members of the community made up of middle-aged professionals, retirees and a few homemakers that have come together to buy and sell stocks. Lenn Width is an older gentle man in his 70’s and has been the leader and founder of the group for 34 years and has made the final decisions on what stocks to buy or sell for the group most of the time even though the process is supposed to be a democratic process, where every member is supposed to vote and have a say in the process. David Korn is a young architect, who had been interested in joining an investment club. He was impressed by a speech Lenn Width had given at a local seminar and was invited to join the 26 member club. David Korn who soon found out that Lenn Width made all the decisions for the club and was not afraid to speak up and made a few uninformed decisions in his first few meetings with the club, he also suggested that the club’s current note-taker be replaced, this became the beginning of the downward turn for David Korn’s popularity which made Lenn feel more validated to be the decision maker for the club. David korn now spent the next year studying and learning about stocks in order to show up Lenn Width and replace him as the leader of the club and make the decisions for the club a more democratic process like it was intended to be in the first place, where all members will be allowed to vote on what stocks to buy or sell and what quantites. Lenn Width was not ready to let a new and younger investor come take over “his” investment club and so he began to look for ways to evict David from the club. He went as far as conducting secret meetings to make his case against David Korn.

DIAGNOSIS

Lenn Width considered himself the owner of the investment club since he was the founder of the club about 34 years ago. He has received rave reviews and has even been featured in the...