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RINKE v. AUTOMOTIVE MOULDING CO.

Docket No. 195753.

573 N.W.2d 344 (1997)

226 Mich. App. 432

Donald F. RINKE, Arlene F. Rinke, Patricia F. Rinke, Richard F. Rinke, and Jay F. Rinke, Plaintiffs-Appellees/Cross-Appellants, v. AUTOMOTIVE MOULDING COMPANY, Norman G. Peslar, and Drew Peslar, Defendants-Appellants/Cross-Appellees.

Court of Appeals of Michigan.

Decided November 18, 1997, at 9:05 a.m.

Released for Publication February 10, 1998.

Attorney(s) appearing for the Case

Sommers, Schwartz, Silver & Schwartz, P.C. by David M. Black and Patrick Burkett, Southfield, for plaintiffs.

Abbott, Nicholson, Quilter, Esshaki & Youngblood, P.C. by Gene J. Esshaki and Carl Jarboe, Detroit, for Automotive Moulding Co.

Jaffe, Raitt, Heuer & Weiss by R. Christopher Cataldo and Melanie LaFave, Detroit, for Norman G. Peslar and Drew Peslar.

Before BANDSTRA, P.J., and MURPHY and YOUNG, JJ.

PER CURIAM.

Defendants appeal the trial court's order granting their motion for summary disposition pursuant to MCR 2.116(C)(7) and dismissing plaintiffs' complaint without prejudice. Plaintiffs cross appeal the same order. We affirm in part, reverse in part, and remand for entry of an order of dismissal with prejudice.

Plaintiffs owned shares of defendant, Automotive Moulding Company (AMC). Plaintiffs sold their stock at book value, signing a redemption agreement...

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