Appeals Court Reverses Claims Against Co-op Board Based on the Business Judgment Rule
Successful appeal by Board members and cooperative corporation to First Department, which reversed trial court's granting of summary judgment in favor of a disgruntled shareholder. This opinion was the "Decision of the Day" in the New York Law Journal and the subject of commentary in such publications as the New York Real Estate Reporter. Barbour v. Knecht, 296 A.D.2d 218, 743 N.Y.S.2d 483 (App. Div., 1st Dept. 2002).