Greenbaum v. American Metal, Climax, Inc.

Certain of the defendants appeal from an order denying their motion for summary judgment. The action is brought by stockholders of a close corporation (“Eastern”) which is engaged in the business of production, sale and installation of precast architectural concrete products used in building construction. The plaintiffs, as owners of 11.8% of the common stock of Eastern, bring the action individually and derivatively to procure an injunction and an accounting with respect to alleged wrongful acts of a majority stockholder and certain officers and directors. The defendants have submitted…