Shoaf v. Warlick

Shaw, Judge:

Appellants, Wayne H. Shoaf and Perry L. Jones, minority stockholders of the Coca-Cola Bottling Company of Anderson, S. C. (Coke-Anderson) instituted this action against respondent, Paul W. Warlick, Jr., former president, chief executive officer and stockholder of Coke-Anderson. Appellants alleged the respondent breached a fiduciary duty and received an unlawful premium in the sale of his majority interest in the Coke-Anderson stock to the Coca-Cola Bottling Company of Asheville, N. C. (Coke-Asheville). The trial judge granted summary judgment to respondent finding appellants…