N.Y. Business Corporation Law § 520: Liability for failure to disclose required information

§ 520. Liability for failure to disclose required information.

Failure of the corporation to comply in good faith with the notice or

disclosure provisions of paragraphs (f) and (g) of section 511 (Share

distributions and changes), or paragraph (c) of section 516 (Reduction

of stated capital in certain cases), shall make the corporation liable

for any damage sustained by any shareholder in consequence thereof.