On June 28, 1991, plaintiff William S. Hack, plaintiff Pearl Hack, his wife, and defendant United Capital Corp., a Delaware corporation, executed mutual general releases in connection with the resolution of litigation concerning control of the company. Prior to December 1987, when Mr. Hack resigned as chairman of the corporation and transferred his ownership interest to his wife, each plaintiff owned 25% of the stock and served as a corporate officer. Together with the release...
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