BARR v. DYKE

Docket: BCD-11-525.

49 A.3d 1280 (2012)

2012 ME 108

Thomas BARR Jr. et al. v. Richard DYKE et al.

Supreme Judicial Court of Maine.

Decided: August 14, 2012.


Attorney(s) appearing for the Case

George J. Marcus, Esq. , (orally), Daniel L. Rosenthal, Esq. , and Andrew C. Helman, Esq. , Marcus, Clegg & Mistretta, P.A., Portland, for appellants Thomas Barr, Jr., and Claude Warren.

Gerald F. Petruccelli, Esq. , (orally), and James B. Haddow, Esq. , Petruccelli, Martin & Haddow, LLP, Portland, for appellees Richard Dyke , Jeffrey Dyke , Allen Faraday , John DeSantis , Richard Thurston , Thomas Kent , and T. Scott Kent .

Jerrol A. Crouter, Esq. , (orally), Drummond Woodsum , Portland, for appellee Bangor Savings Bank.

Panel: SAUFLEY, C.J., and ALEXANDER, LEVY, SILVER, MEAD, GORMAN, and JABAR, JJ.


SAUFLEY, C.J.

[¶ 1] In this appeal, we are asked to determine the enforceability of contracts, executed in settlement of contentious litigation, by which minority shareholders agreed to sell their stock in a corporation back to that corporation in order to resolve claims alleging breaches of fiduciary duties by corporate officers and directors. Although the minority shareholders explicitly disclaimed reliance on the...

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