A claim for breach of fiduciary duty does not lie against individual board members in the absence of an allegation of individual wrongdoing by the members, separate and apart from their collective actions taken on behalf of the cooperative. A corporation owes no fiduciary duty to its shareholders.
Hersh v. One Fifth Ave. Apt. Corp., NY Slip Op 05522 (1st Dep't July 26, 2018)
Here is the decision.
