This derivative action concerns a 54-unit, low-income cooperative created pursuant to New York City's Tenants Interim Leasing Program in 1985. Plaintiffs, who are cooperative shareholders suing on behalf of themselves and the corporation, moved for summary judgment on their claims for breach of fiduciary duty, conversion, and waste, based on evidence that, while serving as directors of the cooperative and controlling its finances, defendants paid themselves salaries without...
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