Edlund v. Los Altos Builders

The Edlunds, husband and wife, as two of the four directors of Los Altos Builders, a California corporation, and as claimed owners of a one-half stock interest therein, brought an action against the corporation to secure its involuntary dissolution. The complaint alleges that the two plaintiffs cannot agree with the other two directors and owners, the Turners, as to the management of corporate affairs, that the Turners have been guilty of fraud, misman agement and abuse of authority, and that there is danger that the corporate property and business will be impaired or lost. The corporation’s…