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WALDMAN v. 853 ST. NICHOLAS REALTY CORP.

64 A.D.3d 585 (2009)

882 N.Y.S.2d 481

SANDRA WALDMAN et al., Respondents, v. 853 ST. NICHOLAS REALTY CORP., Appellant.

Appellate Division of the Supreme Court of New York, Second Department.

Decided July 7, 2009.

Ordered that the order is affirmed, with costs.

Each of the four plaintiffs inherited 10 shares of the defendant corporation's outstanding stock in 1985 following the death of a family member. Those 40 shares constituted 20% of the stock issued by the defendant corporation. The plaintiffs allege that they were advised in 1992 that the then-majority shareholder and secretary-treasurer of the defendant corporation (hereinafter the majority shareholder) intended to abandon...

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