Has it occurred to you that this person is actually entitled to hang on to their shares?

You all made the choice to start the business together. You had the opportunity to work out ironclad provision for founders exiting.

You all worked to get it to this point.

Even if you have lost your respect for this persons contribution, it was part of the deal that they get these shares.

I understand totally if you don't like it, but have you considered that in fact this person might actually be in the right?

Lesson learned, give them the shares, live with the consequences of your decisions. If your company is going as well as you say then it is not the end of the world.

The co-founder you are referring to probably describes you guys as scumbag cofounders unfairly and unjustly booting him out.

Alternatively, get rid of the damn lawyers and ask this person what he wants to make a clean exit deal - it may be less than the full share entitlement and if that is the case then maybe you should take the deal.

And for gods sake stop spending money on lawyers - you are destroying your company firstly via time dilution and secondly by wasting money. Part of running a company successfully is to know exactly what it means to win, to compromise and what it means to take a pragmatic outcome that lets you get on with the job.