Conklin v. Perdue

Jeffrey Conklin and Beth Perdue (plaintiff and defendant), each holding 50% of CPI's stock and serving as its only directors, fell into an irreconcilable dispute about winding down the failing company, exchanged accusatory letters through January 19, 1996, and then stopped communicating about CPI entirely without either formally dissolving it; Conklin later started an unrelated new business, and Perdue removed some files from the CPI office. Conklin sued Perdue for breach of a promissory note covering her prior draw from the company and for breach of fiduciary duty over the removed files; Perdue countered that Conklin breached his own fiduciary duty by starting his new business.