Martoccia v. Cardinal Agency, Inc.

Petitioner in this article 78 proceeding seeks, inter alia, to restrain a proposed meeting of the board of directors of a corporation in which he has an interest as being violative of section 55 of the Stock Corporation Law. Respondents have cross-moved to dismiss the petition for legal insufficiency. It appears that the petitioner and one of the respondents, De Feo, are the sole and equal stockholders, and the individual parties (including the other corespondent Pinto) constitute the board of three directors. They have held office more than six years.

Section 55 of the Stock Corporation Law…