Mike v. Po Group, Inc.

OPINION

REID, Justice.

This case presents for review the decision of the Court of Appeals, affirming an award of summary judgment in favor of the defendants. The Court of Appeals held that the plaintiffs’ suit charging the breach by a majority shareholder of a fiduciary duty owed to minority shareholders is barred by the one year statute of limitations. This Court concludes that the applicable period of limitations is three years and remands the case to the trial court to determine whether plaintiffs’ action was time-barred.

THE CASE

All the individual and corporate parties in this case were…