Levine v. Beem

Lena Levine, as a shareholder in Malaga Properties, Inc., filed this action for the dissolution of Malaga Properties, Inc. Levine alleged that her sister and co-shareholder, Mayme Sinclair, was guilty of illegal, oppressive, or fraudulent conduct as a director of Malaga Properties, that Sinclair was also guilty of misapplying or wasting Malaga Properties' corporate assets, and that the shareholders in Malaga Properties were deadlocked. Levine also alleged that Malaga Properties should be dissolved because no annual meeting of the shareholders had been held since 1972 and, therefore, Malaga…