"Fenwick invested $3.5 million into buying the $7.4-million property in 2007, making him the largest shareholder. He alleges that after more than a decade of minimal activity, Rice suddenly called a meeting in June 2021. He says Rice urged him and the other investors to take advantage of a “spike” in demand for industrial property by selling the land, adding that it could take another decade for the municipality to build sewer and water services, and developing the property privately would yield a low return on their investment."