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PEDERSEN v. ROYCE

38 A.D.3d 1090 (2007)

831 N.Y.S.2d 607

JEFFREY G. PEDERSEN, Respondent-Appellant, v. WILLIAM E. ROYCE et al., Appellants-Respondents.

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

Decided March 15, 2007.

Lahtinen, J.

This dispute centers on the value of plaintiff's 20 shares of stock in defendant Royce International Eyewear, Inc. (hereinafter RIE), a corporation that sells eyeglass frames. Defendant William E. Royce owns 60 of the corporation's 100 shares of stock, plaintiff owns 20 shares and two other individuals own 10 shares each. In July 1999, the four stockholders signed a Third Amendment to Common Stock Transfer Agreement which provided, among other things...

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