Petrick v. B-K Dynamics, Inc.

MARVEL, Vice Chancellor:

The original plaintiffs, 1 whose combined holdings of stock of the defendant corporation constituted less than a majority 2 of its issued and outstanding stock, sued individually and in their capacity as minority stockholders of such corporation. They principally sought injunctive relief against actions taken by the incumbent board of directors of the corporate defendant following their purported election to office at an April 24, 1970 meeting, at which plaintiffs were ostensibly removed as directors. The original plaintiffs were admittedly present at the convening of…