Teresa Malone, et al. v. Kantner Ingredients, et al.

Case Summary: 12-cv-3190

This case is about minority shareholders of a corporation suing the majority shareholder for alleged mismanagement of the corporation. The corporation, Blue Valley Foods, made imitation cheese and other cheese products. In addition to being the majority shareholder of Blue Valley, the defendant was also the sole owner of a holding company, which in turn owned other companies that made cheese products. Blue Valley was eventually placed into receivership and liquidated. 

The plaintiffs allege the defendant breached several fiduciary duties to Blue Valley and to the plaintiffs, including: not holding shareholder meetings, not obtaining shareholder approval for certain actions, not disclosing certain financial information to shareholders, misappropriating the assets of the company for his personal benefit and the benefit of his other companies, charging the company exorbitant administrative fees for the services the holding company provided to Blue Valley, authorizing unfair transactions between Blue Valley and the other companies he owned, and usurping Blue Valleys corporate opportunities.

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