Opinion
March 10, 1986
Appeal from the Supreme Court, Nassau County (Brucia, J.).
Order affirmed, with costs.
The defendant Leopold, who was a director, officer, and 50% shareholder in the two corporate plaintiffs, commenced an action on behalf of those two corporations and himself against the plaintiff Di Dominici, the other director, officer, and 50% shareholder, seeking to recover for the alleged waste of and conversion of corporate assets. In the instant action Di Dominici asserts that Leopold had no authority to commence the action on behalf of the corporations, and thus that Leopold and his attorneys violated Civil Rights Law § 70 by commencing a vexatious and malicious suit in the name of another without the latter's consent.
Special Term properly granted the defendants' motion to dismiss the complaint. Pursuant to Business Corporation Law § 720, Leopold, as a director of the corporations, was entitled to bring suit on their behalf for waste committed by another director or officer (see, Rapoport v. Schneider, 29 N.Y.2d 396; Tenney v Rosenthal, 6 N.Y.2d 204). Mangano, J.P., Thompson, Brown and Eiber, JJ., concur.