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NEIMARK v. MEL KRAMER SALES, INC.

No. 80-1029.

102 Wis.2d 282 (1981)

306 N.W.2d 278

Jack NEIMARK, Plaintiff-Respondent, v. MEL KRAMER SALES, INC., and Delores Kramer, Director and Shareholder of Mel Kramer Sales, Inc., and as personal representative of the Estate of Mel Kramer, and David Gutkin, Director of Mel Kramer Sales, Inc., and Sara Lee Begun, Director of Mel Kramer Sales, Inc., Defendants-Appellants.

Court of Appeals of Wisconsin.

Decided April 27, 1981.

Attorney(s) appearing for the Case

For the defendants-appellants the cause was submitted on the briefs of Godfrey & Kahn, S.C., and Richard S. Marcus and William H. Alverson, of Milwaukee.

For the plaintiff-respondent the cause was submitted on the brief of Peregrine, Marcuvitz, Cameron & Peltin, S.C., and Sherwin C. Peltin, Howard B. Schoenfeld and Michael J. Jassak, of Milwaukee.

Before Decker, C.J., Moser, P.J., and Cannon, J.

DECKER, C.J.

This appeal questions whether the trial court erred in this shareholder's derivative action by ordering specific performance of a stock redemption agreement upon death of the principal shareholder of defendant corporation. We vacate the judgment and remand with directions.

Plaintiff seeks specific performance of an agreement for the redemption of stock owned by the late Mel Kramer (Kramer), founder and majority shareholder of Mel Kramer Sales...

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