Swanson v. Shockley

CARTER, Justice.

Both plaintiff and defendant appeal from district court judgment denying damages to plaintiff in an action alleging sale of corporate stock by the defendant in violation of plaintiff’s right of first refusal. The defendant, formerly the majority stockholder in a closely-held corporation, sold his stock to an outsider. The plaintiff, minority stockholder, sued for damages allegedly resulting from this sale.

The plaintiff Paul Swanson has owned twenty-five shares of a corporation now known as North Central Adjustment Co., Inc. since 1959 and continued to own such shares at the…