He sued her on behalf of kelly corp to recover the profit


Allison is the director of Kelley Corp., she owns real estate property that Kelley Corp is hoping to purchase for expanding purposes. Alison paid $350,000 for this property eight years ago. Allison agreed to sell the land to Kelley Corp for $400,000 which is the property's fair market value after informing the other five directors what her cost was.The other five directors approved. When a Kelley shareholder learned Allisons profit, he sued her on behalf of Kelly Corp to recover the profit she made through self-dealing. Is Kelley liable for the profits she made?

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Finance Basics: He sued her on behalf of kelly corp to recover the profit
Reference No:- TGS02874850

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