Pederson v. Owen

OPINION

By the Court,

Hayes, D. J.:1

All the parties in this controversy were shareholders of Tahoe-Carson Auto Racing, Inc. (T-Car), which promotes and conducts automobile racing events at facilities it owns south of the Carson City turban district.

At the time of the incident giving rise to this litigation, appellant Bjarne Pederson owned 32.5 percent of T-Car stock and was corporate president. His co-defendant below, Bob Meyer, owned 42.5 percent of the stock and served as vice-president and manager of the corporate activities. Respondents, plaintiffs below, owned the remaining 25 percent of…