Floto v. Pied Piper Resort, Inc.

JOHNSON, Judge.

Judge Downs determined the corporation election to be valid. He further determined that the plaintiffs, collectively, owned 410 shares of Pied Piper Resort, Inc. (“Pied Piper”) stock. Plaintiffs, however, in their complaint alleged ownership of 2,573 shares of Pied Piper stock. The pertinent underlying facts are as follows:

Pied Piper, a North Carolina corporation, consisted of various real and personal property assets in Cherokee County. Plaintiffs, William Floto and Peggy Floto, served as President and Secretary-Treasurer, respectively, of Pied Piper. Mr. and Mrs. Floto also…