Gut v. MacDonough

Agnes, Peter W., J.

I. INTRODUCTION

This is a civil action in the nature of a shareholder derivative action by Philippe Gut and Gwen Pratt Gut (“plaintiffs”), two minority shareholders of defendant Westboro Financial Services, Inc., a mid-tier holding company of defendant Westboro Bank. Defendant Westboro Financial Services, Inc. is majority owned by defendant Westboro Bancorp, MHC, a Massachusetts chartered mutual holding company.2 Defendant Westboro Bancorp, MHC owns approximately 64% of the outstanding shares of defendant Westboro Financial Services, Inc. and is controlled by a board of…