Collins v. Telcoa International Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Friedmann, J.
At issue on the instant appeal, inter alia, is whether a corporate shareholder may sue for money damages where the corporation sells all or substantially all of its assets, the sale is not made in the usual or regular course of business, the corporation fails to give the shareholder proper notice of that action as required by Business Corporation Law § 909 (a), and the shareholder does not bring a proceeding to value his shares pursuant to Business Corporation Law § 623. We hold that under these circumstances, a shareholder may sue for money damages.
THE FACTS
Th…
2Cases cited26 opinions
- Leon v. MartinezNew York Court of Appeals · 1994
- Alpert v. 28 Williams Street Corp.New York Court of Appeals · 1984
- Giblin v. MurphyNew York Court of Appeals · 1988
- Della Pietra v. StateNew York Court of Appeals · 1988
- Independent Investor Protective League v. Time, Inc.New York Court of Appeals · 1980
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