Ebling v. Nekarda

Headnote

Ebling v. Pressberger, 171 App. Div. 947 , affirmed.

Appeal from a judgment of the Appellate Division of the Supreme Court in the first judicial department, entered January 7, 1916, affirming a judgment in favor of defendant, respondent, entered upon a dismissal of the complaint as to him by the court on trial at Special Term. This action was brought by the plaintiffs, as minority stockholders of the Home Alliance Realty Company; one of the defendants, to recover, upon its behalf, the sum of $14,000, from which it was alleged the corporation was divested, through a conspiracy conceived and executed by the defendants Nekarda and Orbach, and in which conspiracy the defendants Pressberger and Tenner were aiders and abettors. It was alleged that the defendant Pressberger was under contract to purchase a tract of land situated at Valley Stream, L. I., comprising about seventy-six acres; that he employed one Edlich to sell his contract to purchase, and that Edlich, in turn, employed the defendant Tenner as a subagent; that Nekarda and Orbach, who were the promoters and officers of the defendant Home Alliance Realty Company and bore the relation of trust to it, entered into a conspiracy with Tenner and Pressberger by which the selling price of the land which was purchased through the efforts of Orbach and Nekarda by the Home Alliance Realty Company was fixed at $1,200 an acre, although Pressberger was willing to sell at $1,000 an acre, and the difference, amounting to $14,000, was paid to Nekarda by Pressberger for division among Orbach, Tenner and Nekarda.