California Court of Appeal

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Applied Medical Corporation v. Thomas, 145867

In a corporate governance action, arising from plaintiff corporation's suit over the exercise of its right to repurchase shares of its stock, given to defendant under a stock incentive plan for outside directors on its board, the trial court's grant of summary judgment to defendant is: 1) reversed because plaintiff's conversion claim could be based on either ownership or the right to possession at the time of conversion; and 2) affirmed because plaintiff's fraud claims were not timely under either the discovery rule or relation back doctrine, and thus barred by the statute of limitations.

Appellate Information

  • Argued
  • Submitted
  • Decided
  • Published 2017/04/12

Judges

  • SIMONS

Court

  • California Court of Appeal

Counsel


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