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McCULLY v. JERSEY PARTNERS, INC.

60 A.D.3d 562 (2009)

876 N.Y.S.2d 27

ROBERT McCULLY, Appellant, v. JERSEY PARTNERS, INC., Respondent.

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

Decided March 26, 2009.

Plaintiff's claim for a tax dividend for 2001 was properly dismissed because, by exercising his right to a fair-value appraisal of his shares in defendant upon consummation of the corporate reorganization on November 30, 2001, plaintiff ceased to have any rights as a shareholder except the right to the fair value of his shares (Business Corporation Law § 623 [e], [k]; Breed v Barton, 54 N.Y.2d 82

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