Krause v. Mason

Plaintiffs, owners of 50 percent of the common shares of Golden Age Distributors, Inc., an Oregon corporation (hereinafter Golden Age), filed this derivative suit on behalf of the corporation against defendants Mr. and Mrs. Mason, owners of the remaining 50 percent of the common shares, for (1) the nonpayment for stock issued to the defendants; (2) the conversion of corporate assets; and (3) attorney fees.

The trial court decree and judgment required defendants to pay for the shares of the stock issued to them by the corporation but denied relief on the remaining two issues. Plaintiffs appeal.…