Legal Opinion
Giaimo v. EGA Associates Inc.
Appellate Division of the Supreme Court of the State of New York
Decided December 15, 2009PublishedCited by 2 opinions
1Opinion of the Court
*524The transfer restrictions printed on the back of the share certificates should have been enforced (see Matter of Penepent Corp., 96 NY2d 186, 192 [2001]; Gallagher v Lambert, 74 NY2d 562, 567 [1989]; UCC 8-204). The restrictions prohibit the transfer of shares without granting the corporation 30 days’ written notice and the first option to purchase the shares. The corporation was owned in equal shares by Edward P. Giaimo, Jr., now deceased, and his two siblings, plaintiff Robert T. Giaimo and defendant Janet Giaimo Vitale. We reject defendants’ argument, that, as the president of the…
2Cases cited6 opinions
- Gallagher v. LambertNew York Court of Appeals · 1989
- Sterling Industries, Inc. v. Ball Bearing Pen Corp.New York Court of Appeals · 1949
- Barbour v. KnechtAppellate Division of the Supreme Court of the State of New York · 2002
- In Re the Dissolution of Penepent Corp.New York Court of Appeals · 2001
- Tidy-House Paper Corp. v. AdlmanAppellate Division of the Supreme Court of the State of New York · 1957
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3Cited by2 opinions
- Celauro v. 4C Foods Corp.New York Supreme Court · 2012
- Hong Qin Jiang v. Li Wan WuAppellate Division of the Supreme Court of the State of New York · 2020