Martignette v. Sagamore Manufacturing Co.

The plaintiffs, having voted their 564 shares of the common stock against the proposal, effective August 10, 1956, to consolidate their corporation with two other corporations, made demand upon the consolidated corporation, the defendant (Sagamore), within the statutory thirty day period (G. L. c. 156, § 46E) for payment for their shares. Failing agreement on the value, the plaintiffs and Sagamore each appointed an appraiser as the statute provides (G. L. c. 156, § 46E, by reference to § 46 1 ). The two appraisers could not agree on a third and the plaintiffs brought this bill of complaint…