In 1977 defendant Mallinckrodt and plaintiff Christian Rupert formed Christian Rupert of New York, Inc. for the purpose of marketing women's clothes to be designed by Rupert. Defendant owned 51 shares of the corporation's common stock, for which she paid $100,000, while plaintiff owned 49 shares. In December 1982 the business was declared a failure, and defendant resigned as director, returning her stock to the company. Plaintiff thereafter commenced the instant action against...
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