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C & J BROS., INC. v. HUNTS POINT TERM. PRODUCE COOP. ASSN., INC.

11195, 302074/12.

181 A.D.3d 419 (2020)

116 N.Y.S.3d 903

2020 NY Slip Op 01454

C & J Brothers, Inc., Respondent, v. Hunts Point Terminal Produce Cooperative Association, Inc., Appellant.

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

Decided March 3, 2020.

"[I]t is well settled that a corporation does not owe fiduciary duties to its members or shareholders" (Hyman v New York Stock Exch., Inc., 46 A.D.3d 335, 337 [1st Dept 2007]; see Stalker v Stewart Tenants Corp., 93 A.D.3d 550, 552 [1st Dept 2012]). Here, while the complaint alleges that defendant's board of directors breached its fiduciary duty to plaintiff in refusing to approve the sale...

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