Legal Opinion
Yasik v. Harry Wachtel & Diamond State Brewery, Inc.
Court of Chancery of Delaware
Decided January 13, 1941PublishedCited by 33 opinions
1Opinion of the Court
The Vice-Chancellor :
Complainant charges that the issuance to Harry Wachtel of 58,400 shares of the voting stock of Diamond State Brewery, Inc., a Delaware corporation, was in violation of the pre-emptive rights of the shareholders, including complainant, and was otherwise in fraud of their rights in that the stock was issued for an inadequate consideration and for the purpose of wresting control of the corporation from the former majority shareholder. The relief asked is that the shares be delivered up for cancellation.
The defendant company was incorporated in April, 1933. Its authorized…
2Cases cited5 opinions
- Elliott v. BakerMassachusetts Supreme Judicial Court · 1907
- Kingston v. Home Life Insurance Co. of AmericaCourt of Chancery of Delaware · 1917
- Bowen v. Imperial Theatres, Inc.Court of Chancery of Delaware · 1922
- Bodell v. General Gas & Electric Corp.Court of Chancery of Delaware · 1926
- Dunlay v. Avenue M Garage & Repair Co.New York Court of Appeals · 1930
3Cited by33 opinions
- Singer v. Magnavox Co.Supreme Court of Delaware · 1977
- Cheff v. MathesSupreme Court of Delaware · 1964
- Condec Corporation v. Lunkenheimer CompanyCourt of Chancery of Delaware · 1967
- St. Louis Union Trust Co. v. Merrill Lynch, Pierce, Fenner & Smith Inc.Court of Appeals for the Eighth Circuit · 1977
- Bennett v. ProppSupreme Court of Delaware · 1962
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