X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Kelley Manufacturing Company KMC appeals from the trial court’s denial of its motion for judgment on the pleadings of Timothy J. Maxwell and James L. Martin. Maxwell and Martin filed this action seeking inspection of corporate records pursuant to OCGA § § 14-2-1602 through 14-2-1604. In reviewing a trial court’s denial of a motion for judgment on the pleadings, we must determine “whether the undisputed facts appearing from the pleadings entitle the movant to judgment as a matter of law. All well-pleaded material allegations by the nonmovant are taken as true, and all denials by the movant are taken as false. But the trial court need not adopt a party’s legal conclusions based on these facts.” Citations and punctuation omitted. Southwest Health & Wellness, LLC v. Work , 282 Ga. App. 619, 623 2 639 SE2d 570 2006. Accordingly, a motion for judgment on the pleadings “should be granted only where the pleadings disclose with certainty that the plaintiff would not be entitled to relief under any state of provable facts.” Citation omitted. Blier v. Greene , 263 Ga. App. 35 587 SE2d 190 2003.

So viewed, the allegations show that KMC’s Employees Stock Ownership Plan ESOP was established in 1990 and is subject to the Employee Retirement and Income Security Act of 1974 ERISA, 29 USC § 1001 et seq. All contributions to the plan are made by KMC to the ESOP on an annual basis. Each participant’s ESOP account is credited annually with a contribution based upon the employee’s compensation. KMC’s annual contribution is generally made in cash and the ESOP is invested in KMC stock. One hundred percent of KMC’s stock is owned by the ESOP.

 
Reprints & Licensing
Mentioned in a Law.com story?

License our industry-leading legal content to extend your thought leadership and build your brand.

More From ALM

With this subscription you will receive unlimited access to high quality, online, on-demand premium content from well-respected faculty in the legal industry. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas.
View Now
Our Team Account subscription service is for legal teams of four or more attorneys. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team.
View Now
Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Both options are priced the same.
View Now
May 01, 2025
Atlanta, GA

The Daily Report is honoring those attorneys and judges who have made a remarkable difference in the legal profession.


Learn More
December 11, 2024
Las Vegas, NV

This event shines a spotlight on how individuals and firms are changing the investment advisory industry where it matters most.


Learn More
February 24, 2025 - February 26, 2025
Las Vegas, NV

This conference aims to help insurers and litigators better manage complex claims and litigation.


Learn More

McCarter and English s Chambers-ranked Government Contracts group is seeking an experienced, diligent, and proactive government contracts as...


Apply Now ›

McCarter & English, LLP is actively seeking a litigation associate for its office located in Hartford, CT. One to three years of experie...


Apply Now ›

Borteck & Czapek, P.C., based in Florham Park, is a boutique estates and trusts law firm specializing in estate planning and administrat...


Apply Now ›