Zidell v. Zidell, Inc.

These four suits were filed by Arnold Zidell, a minority shareholder of four related, closely-held corporations, seeking to compel the directors of those corporations to declare dividends. The four cases were tried together in the circuit court and have been consolidated on appeal. A fifth suit was also tried simultaneously in the trial court but is now the subject of a separate appeal. Plaintiff’s complaints alleged that defendants "arbitrarily, unreasonably and in bad faith” refused to declare more than a modest dividend in 1973. The trial court ordered each of the defendant corporations to…