MATTER OF MURPHY


120 A.D.2d 733 (1986)

In the Matter of Maraline Murphy et al., Appellants. Gallagher Brothers Sand and Gravel Corp. et al., Respondents

Appellate Division of the Supreme Court of the State of New York, Second Department.

May 27, 1986


Judgment affirmed, with costs.

The respondent corporations were founded by three men in the 1930's. All three founders have since died, but ownership of the stock has remained in the hands of members of their families. The petitioners, two of whom are married to each other, all inherited their stock from their fathers, and collectively hold approximately 25% of the outstanding shares.

The petitioners have rejected an offer to sell their interests in the businesses...

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