(Download) "Smartt v. Coca-Cola Bottling Corp." by United States Court Of Appeals Sixth Circuit # eBook PDF Kindle ePub Free
eBook details
- Title: Smartt v. Coca-Cola Bottling Corp.
- Author : United States Court Of Appeals Sixth Circuit
- Release Date : January 18, 1963
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
This is a suit for a declaratory judgment and injunction in which the plaintiffs seek to have their rights declared as to a proposed reorganization plan of the defendant corporation, and to enjoin the corporation from "adversely affecting the rights of the plaintiffs and all other holders of Class A stock." Plaintiffs allege that defendant, seeking to serve the interest of Class "B" stockholders, sent notice to all stockholders of a proposed merger plan whereby Class "A" stock would be exchanged for debentures. This notice is alleged to have been misleading. There is further allegation of a failure to pay proper dividends, causing owners of Class "A" stock to believe the corporation would never be profitable. It is the plaintiffs contention that such failure misled the majority of Class "A" stockholders into acquiescing in the merger plan. Plaintiffs contention appears to be that this activity amounts to a breach of a fiduciary trust.
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