Willard v. Moneta Building Supply, Inc.

In this appeal, we consider whether Ronald L. Willard’s (“Willard”) cause of action against Moneta Building Supply, Inc. (“Moneta”) is governed by the five-year statute of limitations set forth in Code § 8.01-243(B) or by the two-year statute of limitations set forth in Code § 8.01-248. Specifically, we must decide whether a loss of dissenters’ rights to demand payment for shares of stock constitutes an injury to property.

I. Facts and Proceedings Below

Willard previously filed a derivative action pursuant to Code § 13.1-672.1 on behalf of Moneta and all its stockholders against Moneta, A.S.…