Law360, New York ( February 8, 2016, 10:45 AM EST) -- "Who is entitled to assert and litigate the rights of an aggrieved corporation when, as here, the party who allegedly injured the corporation is a 50% shareholder, controls half of the corporation's board of directors, and does not want the corporation to pursue litigation?" The Kentucky Court of Appeals framed a recent dispute before it with this question. The answer, as set forth in Gross v. Adcomm Inc. has significance for many closely held Kentucky corporations and their shareholders.[1]...
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