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CLARK v. SIMS

No. 27,782.

219 P.3d 20 (2009)

2009-NMCA-118

Richey E. CLARK and Lynova Clark, Plaintiffs-Appellees, v. Jerry C. SIMS, Defendant-Appellant, and Sunfeather Reproductions, Inc., and Wells Fargo Home Mortgage, Inc., Defendants.

Court of Appeals of New Mexico.

Certiorari Denied, No. 31,896, September 15, 2009.

Attorney(s) appearing for the Case

Cynthia J. Patterson, Silver City, NM, for Appellees.

William Perkins, Silver City, NM, for Appellant.

OPINION

FRY, Chief Judge.

{1} This case involves an issue of first impression concerning a shareholder's standing to bring an individual action against another equal shareholder in a closely held corporation for a breach of fiduciary duty in the sale of corporate assets. The district court held that Jerry C. Sims breached his fiduciary duty to equal shareholders Richey E. Clark and Lynova Clark. Specifically, the district court found that Jerry...

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