Korman Corp. v. Franklin Town Corp.

TAKIFF, ].,

This action in equity was commenced by plaintiff, a minority shareholder of Franklin Town Corporation, in March, 1983. In its amended complaint, plaintiff alleges that defendants, majority shareholders of Franklin Town, have exercised their control and domination over the affairs of the corporation in pursuit of their own selfish interest and gain, thereby breaching the fiduciary duties which they owe both to the corporation and to plaintiff directly as a minority stockholder. Defendants filed extensive preliminary objections to plaintiff’s amended complaint to *497which plaintiff…