GIBSON v. ADAMS

No. 69187.

946 S.W.2d 796 (1997)

Edwin S. GIBSON, Jr., Plaintiff/Respondent, v. Charles H. ADAMS, James V. Murphy, Madison Metal Services, Inc., Glennon Steel Company and Murphy Metals, Inc., Defendants/Appellants.

Missouri Court of Appeals, Eastern District, Division Two.

June 10, 1997.


Attorney(s) appearing for the Case

Sonnenschein Nath & Rosenthal, Larry M. Bauer, Robert J. Isaacson, St. Louis, for Defendants/Appellants.

Curtis, Oetting, Heinz, Garrett & Soule, P.C., David P. Oetting, Kenneth J. Heinz, St. Louis, for Plaintiff/Respondent.


PUDLOWSKI, Judge.

Edwin S. Gibson (Gibson) formed Madison Metal Services, Inc. (Madison) with Charles H. Adams (Adams) and James V. Murphy (Murphy) in 1981. All three were shareholders of the company. After discharging Gibson in 1991, Adams and Murphy failed to hold shareholders' or directors' meetings and raided Madison's assets without obtaining shareholder or board approval, all to Gibson's detriment. The trial court found Adams and Murphy had breached their fiduciary...

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