Herzog, Heine, Geduld, Inc. v. NCC Industries

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June 18, 1998

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2339 Women's, Misses', and Juniors' Outerwear, NEC
315240 Women’s, Girls’, and Infants’ Cut and Sew Apparel Manufacturing
breach of fiduciary duty
control premium, shareholder dispute, minority shareholder, majority shareholder
Herzog, Heine, Geduld, Inc. v. NCC Industries
251 A.D.2d 173, 673 N.Y.S.2d 910, 1998 N.Y. App. Div. LEXIS 7294
US
State Court
New York
Supreme Court
Milonas

Summary

Plaintiffs alleged breach of fiduciary duty based on majority shareholders sale of stock at a control premium price, where public sale price dropped significantly thereafter.

See Also

Controlling Stockholders Have No Duty to Share Control Premium Received

Legal and Court Case Update
September 1998

NCC Industries is a publicly traded Delaware corporation involved in the garment business.