Ferolito v. Vultaggio

Order, Supreme Court, New York County (Martin Shulman, J.), entered August 17, 2009, which denied plaintiffs’ and third-party defendant’s respective motions for summary judgment, granted defendants’ cross motion for summary judgment, dismissed count one of the complaint, and declared that restrictions on the transfer of corporate interests, as set out in a shareholders’ agreement between plaintiffs and defendants, were valid and enforceable, unanimously affirmed, with costs.

In 1998, the plaintiff and defendant groups, each of whom held a 50% interest in a closely held enterprise, entered into…