Nature of the Case
To access this section all you need to do is click here and register.
Facts
Gimpel (P) was a shareholder in Gimpel Farms. Farms was a family corporation engaged in the dairy business. The farm passed through three generations. Family members have always participated actively in the management and daily operations of the company and have taken their recompense in the form of salary and perquisites. Substantial salaries are drawn, and no dividends have ever been paid. P was employed but discharged in 1974 due to allegations that he embezzled $85,000. Ds have entered substantial evidence to support these allegations. P has artfully rebutted these allegations by stating that he has never been prosecuted for any crime and that the statute of limitations has passed. This as a matter of law was ruled insufficient to rebut the fact that P was thief. Since that time, P has received no benefits from ownership. Shareholders have offered to buy out his shares, but he has rejected those figures as inadequate. P filed this present action.
Support@ bsmsphd.com
Casebriefs Co