Gauntlett v. Medical Parameters, Inc.

The plaintiff was the president, a director and the owner of fifty percent of the shares of the defendant corporation, which was organized in March, 1973. The treasurer and owner of the balance of shares in the defendant corporation was A. Walter MacEachern. The defendant functioned as a manufacturer’s representative and sold medical equipment. Patient monitoring devices which are used in intensive care units of hospitals were the principal products marketed by the defendant.

Negotiations for the sale of the plaintiff’s stock in the defendant and termination of his stewardship as an officer…