From Casetext: Smarter Legal Research

Liebschutz v. Schaffer Stores Co., Inc.

Appellate Division of the Supreme Court of New York, Fourth Department
Jul 8, 1948
274 App. Div. 847 (N.Y. App. Div. 1948)

Opinion

July 8, 1948.

Present — Taylor, P.J., McCurn, Love, Vaughan and Kimball, JJ. [See post, pp. 870, 1023.]


Order reversed on the law, with $10 costs and disbursements, and motion granted, with $10 costs, and complaint dismissed. Memorandum: Upon this record, plaintiff was entitled only to an election to accept the plan of a reclassification of the shares of the capital stock or to seek an appraisal pursuant to section 21 of the Stock Corporation Law. On an appraisal, his rights, if any, to the surplus would have been determined. Plaintiff took neither step. The complaint does not state facts sufficient to constitute a cause of action. ( Anderson v. International Minerals Chemical Corp., 295 N.Y. 343; McNulty v. W. J. Sloane, 184 Misc. 835.) All concur. (The order denies defendant's motion for summary judgment and for dismissal of the complaint.)


Summaries of

Liebschutz v. Schaffer Stores Co., Inc.

Appellate Division of the Supreme Court of New York, Fourth Department
Jul 8, 1948
274 App. Div. 847 (N.Y. App. Div. 1948)
Case details for

Liebschutz v. Schaffer Stores Co., Inc.

Case Details

Full title:PHILIP M. LIEBSCHUTZ, Suing on Behalf of Himself and All Other…

Court:Appellate Division of the Supreme Court of New York, Fourth Department

Date published: Jul 8, 1948

Citations

274 App. Div. 847 (N.Y. App. Div. 1948)