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ACTION, INC. v. LIVESAY

No. COA01-450.

564 S.E.2d 566 (2002)

ACTION COMMUNITY TELEVISION BROADCASTING NETWORK, INC. and Herbert Greenberg, Plaintiff-Appellees, v. Ray LIVESAY, Defendant-Appellant.

Court of Appeals of North Carolina.

June 18, 2002.

Attorney(s) appearing for the Case

Bridgers, Horton, Rountree & Boyette, by Charles S. Rountree, Tarboro, for plaintiff-appellee, Action Community Television Broadcasting Network, Inc.

Etheridge, Sykes, Britt & Hamlett, LLP, by William D. Etheridge, Nashville, for plaintiff-appellee, Herbert Greenberg.

Adams, Portnoy & Berggren, PLLC, by Douglas E. Portnoy, Raleigh, for defendant-appellant.

McGEE, Judge.

Herbert Greenberg (Greenberg) and Ray Livesay (defendant) are each fifty percent shareholders in Action Community Television Broadcasting Network, Inc. (Action, Inc.), which was formed in November 1995. An organizational meeting of the shareholders was held on 8 May 1996. Greenberg and defendant were elected officers at this meeting, and each was given an equal shareholder interest in the corporation. Greenberg and defendant issued a de facto...

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