Andrews Corporate Officers and Directors Liability Litigation Reporter
October 12, 1998
Close Corporation/Business Judgment Rule:
Copyright (c) 1998 Andrews Publications
4TH CIR. TO DECIDE IF BUSINESS JUDGMENT RULE APPLIES TO CLOSE CORPORATION
Kreischer v. The Kerrison Dry Goods Co.
The majority shareholders of a closely held family corporation breached their fiduciary duty by undervaluing their stock, the minority shareholders told a federal appeals court in Richmond, VA. Kreischer et al. v. The Kerrison Dry Goods Co. et al.,...