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Wiles and three other individuals formed a corporation to operate a nursing home many years ago. The four corporate shareholders were also elected directors, and they served as employees of the close corporation. Plaintiff had a quarrel with one of the other directors after years of successful operation. As a result, the other board members canceled plaintiff’s salary, refused to reelect him as director, and stopped paying dividends in an attempt to freeze him out. He sued for damages on the ground that the majority had breached the fiduciary duty owed to him. Is plaintiff’s argument correct? Why?

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M93135060

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