By decision and order dated May 16, 2011, Justice O. Peter Sherwood of the Supreme Court of the State of New York. The judge dismissed the petition and ruled in favor of the elected directors and the corporation.
The court held that the proceeding brought by the three shareholders was defective in that (a) it did not name the corporation as a necessary respondent and (b) when the petitioners sought to add the corporation, they did it improperly and too late.
It should be noted that this dismissal was just a ruling based on improper petitioning of the case, a mere technicality and that the dismissal had nothing to do with the merits of the case that was first brought before the court. If you would like to review the issues and merits of the case please click here.
If we could speak editorially on this case, to bring some sense of community, perhaps the board could just simply vote to re-count the votes of last year with the over-site of last years election observers and our newly chosen elected officials..maybe that way it would bring an end to any unanswered questions…just a thought.