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In plaintiffs' suit against defendant-shareholder involving a dispute over the transfer of shares of a pharmacy, judgment of the trial court is affirmed to the extent it exonerated the third party but is reversed to the extent that it holds that the plaintiffs did not breach any fiduciary duty to defendant as, where the bylaws of a pharmacy corporation provide that one shareholder must give another a right of first refusal on the sale of any stock, it is a breach of fiduciary duty for the selling stockholder to attempt to sell to a third party in violation of the right of first refusal.
Read Le v. Pham, No. G041473 [HTML]
Filed December 31, 2009
Opinion by Judge Sills
For Appellant: Ashton R. Watkins
For Appellee: The Amin Law Group, Ismail Amin, Tenny C. Rostomian-Amin, and Jeffrey R. Groendal