Goode v. Ryan

The plaintiff brought this action seeking a declaration that the fiduciary obligation which shareholders of a close corporation owe one another requires that majority shareholders purchase, or cause the corporation to purchase, the shares of a minority shareholder on the death of the minority shareholder. A Superior Court judge allowed the defendants’ motion for summary judgment on this claim and the plaintiff appealed. We granted the plaintiff’s application for direct appellate review and now affirm the judgment.

The facts relevant to this appeal are as follows. The plaintiff, Thomas E.…