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LORIGGIO v. SABBA

1961, 1961A, 602632/05

69 A.D.3d 446 (2010)

892 N.Y.S.2d 387

2010 NY Slip Op 199

JOSEPH A. LORIGGIO, Appellant, v. STEVEN SABBA et al., Respondents.

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

Decided January 12, 2010.

Pursuant to a shareholder's agreement between plaintiff, an attorney and certified public accountant (CPA), and defendant Sabba, the principal shareholder of defendant TaxPro, plaintiff became an employee of TaxPro and acquired a 10% equity interest therein by paying Sabba $100,000 in cash and assuming an obligation to pay Sabba an additional $100,000 with 7.5% interest in five semiannual installment payments. The agreement gave...

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