Erlich v. Nyberg

Mr. PRESIDING JUSTICE SULLIVAN

delivered the opinion of the court:

Plaintiff purchased 50 percent of the outstanding stock in the defendant 111 W. Division Operating Corporation (the corporation) which leased, operated and managed the Mark Twain Hotel in Chicago. The corporation refused to issue new certificates in plaintiff’s name, asserting that he had acquired the stock in violation of a transfer restriction. Subsequently, defendants Harold Nyberg and Ralph Nyberg (president and vice-president respectively of the corporation and shareholders thereof) purchased the hotel, and the remaining…