Bibo v. Jeffrey's Restaurant

MATTHEWS, Chief Justice.

I. FACTUAL AND PROCEDURAL BACKGROUND

In this case, George Bibo, a minority stockholder of Alaska Pacific Properties, Inc. claims that the Johnsons, controlling shareholders of the corporation, caused the corporation to engage in various transactions which benefitted the Johnsons to the prejudice of the corporation and Bibo. Summary judgment in favor of the controlling shareholders was granted. We reverse.

George Bibo owns 25% of the stock in Alaska Pacific Properties, Inc. Members of the Johnson family, August, Miriam, and Marsha, directly or indirectly own the rest of…