B & H Warehouse, Inc. v. Atlas Van Lines, Inc.

LEWIS R. MORGAN, Circuit Judge:

This case involves plaintiff-shareholder’s claim that the defendant corporation converted plaintiff’s shares by restricting plaintiff’s right to sell or transfer them. The restriction provides that before alienating the shares, plaintiff must offer them to the corporation at book value, which, plaintiff alleges, is significantly less than the true market value of the shares. Plaintiff seeks damages of $60,000, which is alleged to be the difference between the price which plaintiff could receive in the open market absent the restriction, and the book value of the…