Neimark v. Mel Kramer Sales, Inc.

This appeal questions whether the trial court erred in this shareholder’s derivative action by ordering specific performance of a stock redemption agreement upon death of the principal shareholder of defendant corporation. We vacate the judgment and remand with directions.

Plaintiff seeks specific performance of an agreement for the redemption of stock owned by the late Mel Kramer (Kramer), founder and majority shareholder of Mel Kramer Sales, Inc. (MKS). MKS is a closely-held Wisconsin corporation engaged in the business of selling automotive parts and accessories. The interests of the…