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IRENE DAVID REALTY, INC. v. MOYAL

10286, 110014/09.

107 A.D.3d 430 (2013)

967 N.Y.S.2d 41

2013 NY Slip Op 4099

IRENE DAVID REALTY, INC., et al., Appellants, v. DAVID MOYAL et al., Respondents, and 121 VARICK STREET CORP., Nominal Defendant.

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

Decided June 6, 2013.

Plaintiffs, minority shareholders in 121 Varick Street Corp. (Varick), a commercial cooperative corporation, allege that defendant Moyal, as president of the board of directors, engaged in self-dealing and breached his fiduciary duties. Moyal owns two corporations that lease space on the ground floor of the building. Plaintiffs do not contend that Moyal was improperly involved in the approval of the primary leases between the two...

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