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PETROU v. KARL EHMER INT'L FOODS, INC.

167 A.D.2d 338 (1990)

George Petrou, Individually and as a Shareholder of Karl Ehmer International Foods, Inc., Respondent, v. Karl Ehmer International Foods, Inc., et al., Defendants, and Jerome E. Goldman, Appellant

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

November 5, 1990

Ordered that the order is affirmed, with costs.

On September 15, 1981, the plaintiff's brother assigned 20,000 shares of stock in Karl Ehmer International Foods, Ltd., a Delaware corporation, to the plaintiff. It is undisputed that the assignment was not recorded on the corporate books.

In July 1988 the plaintiff commenced a shareholder's derivative action alleging that, between May 1981 and December 1982, the defendants conspired and willfully embarked upon...

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