McLaughlin v. Schenk

Justice PARRISH,

opinion of the Court:

INTRODUCTION

11 This case involves an appeal from an entry of summary judgment in a case that we remanded in 2009. In 1999, Greg Schenk purchased shares in Cookietree, Inc. (Cookie-tree), in violation of a 1991 Shareholder Agreement. In 2005, Cookietree's Board of Directors (Board), including Schenk, voted to waive the provisions of the 1991 Shareholder Agreement that precluded the stock purchase. Around that same time, shareholders representing nearly 90 percent of Cookie-tree's shares, again including Schenk, signed consent and waiver forms ratifying the…