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  5. 44 N.Y.2d 560 (1978)
 

MATTER OF BUCKLEY

44 N.Y.2d 560 (1978)

In the Matter of Yolande D. Buckley et al., Appellants. Wild Oaks Park, Inc., et al., Respondents.

Court of Appeals of the State of New York.

Decided June 13, 1978.

Attorney(s) appearing for the Case

Michael J. Trainor and Maurice F. Curran for appellants.

William J. Greer and Emery M. Anderson for Galine Duraffourd, respondent.

Henry J. Smith, Raymond P. O'Keefe and Charles M. Feuer for Wild Oaks Park, Inc., and others, respondents.

Chief Judge BREITEL and Judges JASEN, GABRIELLI, WACHTLER, FUCHSBERG and COOKE concur.

JONES, J.

We conclude that, without a prior adjudication as to the beneficial (as distinguished from the record) ownership of the outstanding shares, it is inappropriate in this case to determine the application of the rule that, in issuing authorized but theretofore unissued shares of stock, corporate directors have a fiduciary responsibility to treat all their shareholders...

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