N.Y. Bus. Corp. Law § 520

§ 520. Liability for failure to disclose required information.\n Failure of the corporation to comply in good faith with the notice or\ndisclosure provisions of paragraphs (f) and (g) of section 511 (Share\ndistributions and changes), or paragraph (c) of section 516 (Reduction\nof stated capital in certain cases), shall make the corporation liable\nfor any damage sustained by any shareholder in consequence thereof.\n