Weisman, Celler, Spett & Modlin v. Fein

Plaintiff failed to state a cause of action for conversion against the cooperative, which participated in the sale of the shares allocated to the subject apartment pursuant to a court order directing it to do so. Plaintiff did not provide the cooperative with evidence of a valid transfer of the shares to it, since it had not complied with any of the cooperative’s relevant bylaws or provisions of the proprietary lease. The cooperative was therefore acting within the business judgment rule in abiding by its governing documents (see, Allen v Murray House Owners Corp., 174 AD2d 400, lv denied 78…