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POWELL v. BERNSTEIN

262 A.D.2d 221 (1999)

692 N.Y.S.2d 346

DAVID POWELL et al., Appellants, v. MADELINE BERNSTEIN et al., Respondents.

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

Decided June 24, 1999.

Plaintiffs, minority shareholders holding life interests in shares of a subchapter S family corporation, assert that the trial evidence established that the previously ratified policy of distributing less than 100% of net profit as dividends (see, 177 A.D.2d 452; 233 A.D.2d 182) is no longer required by financial conditions, and is being continued by defendant majority shareholders for the sole...

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