Ross v. 311 North Central Avenue Building Corp.

This is a class action brought by plaintiffs, minority stockholders in the defendant building corporation. In a non jury trial, the court entered a decree which found that in the use of surplus funds of the corporation, the acts of the defendant directors, who were in control of the corporation, were fraudulent and oppressive as against the minority stockholders. The relief granted included liquidation of the defendant corporation and attorney’s fees for plaintiffs. In this appeal from the decree, the contentions of defendants are primarily based on the premise that the conduct of the…