Dubuc Lucke & Co. v. Walker

Defendant-appellees Cy Waddle, W.T. Walker, and T.S. Ballance were the major shareholders and directors of Somerset Oil, Inc., a Kentucky corporation. Although Somerset maintained a variety of business interests and assets, its primary emphasis was oil refining. Together with the minority ownership of the remaining appellees, Waddle, Walker, and Ballance controlled all 447 outstanding shares of Somerset. The shareholders sought to sell Somerset and engaged appellant, Dubuc Lucke ' & Co., Inc. (“DLC”), to assist them in finding a purchaser.

The contract governing the relationship between the…