Heylandt Sales Co. v. Welding Gas Products Co.

Complainant, a stockholder of defendant corporation, sued to cancel an issue to individual defendants of 580 shares of the corporate stock of defendant corporation, charging that complainant had been denied'participation in this new issue, in violation of a right reserved hy the by-laws and the statute. Code 1932:, section 3734., The answer admitted this, hut charged that the complainant had theretofore violated agreements made with defendants upon the organization of defendant corporation; that complainant had agreed not to acquire a majority of stock in defendant corporation nor to secure…