Bessette v. Bessette

The plaintiffs, minority stockholders in Bessette & Sons Glass Corp., brought a personal action, alleging that the defendant, as majority stockholder, caused the corporation to transfer substantial sums for her benefit in the form of an excessive salary and payments on notes for which the corporation received no consideration. The plaintiffs contend that such payments were actually dividends, and seek payment of that portion of the amount received by the defendant equal to their respective stock interests. The plaintiffs did not bring a stockholders’ derivative action. After a hearing, a…