Rinke v. Automotive Moulding Co.

Defendants appeal the trial court’s order granting their motion for summary disposition pursuant to MCR 2.116(C)(7) and dismissing plaintiffs’ complaint without prejudice. Plaintiffs cross appeal the same order. We affirm in part, reverse in part, and remand for entry of an order of dismissal with prejudice.

Plaintiffs owned shares of defendant, Automotive Moulding Company (AMC). Plaintiffs sold their stock at book value, signing a redemption agreement that provided that if the corporation was sold for a higher price per share within two years from the date of the agreement, plaintiffs would…