Wiedersum v. Atlantic Cement Products, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtJohnston, J.
The principal question presented is whether, without his consent, the holder of preferred stock of a corporation may be deprived of his right to accrued cumulative dividends as an incident to a statutory proceeding to reclassify the corporation’s capital stock. (Stock Corp. Law, § 36.) The facts, in the main, are undisputed.
In May, 1927, the defendant corporation was organized under the laws of New York. In 1928 plaintiff’s assignor purchased 50 shares of preferred and 50 shares of common stock. At that time the capital of the corporation was $350,000, represented by 3,500 *306shares of preferred…
2Cases cited7 opinions
- Keller v. Wilson Co. Inc.Supreme Court of Delaware · 1936
- Consolidated Film Industries, Inc. v. JohnsonSupreme Court of Delaware · 1937
- Patterson v. Durham Hosiery MillsSupreme Court of North Carolina · 1939
- Lonsdale, C., Corp. v. International, C., Co.New Jersey Court of Chancery · 1927
- Matter of SilberkrausNew York Court of Appeals · 1929
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3Cited by9 opinions
- Davison v. Parke, Austin & Lipscomb, Inc.New York Court of Appeals · 1941
- McNulty v. W.& J.SloaneNew York Supreme Court · 1945
- Friedman v. LibinNew York Supreme Court · 1956
- Diamond v. WassermanAppellate Division of the Supreme Court of the State of New York · 1959
- Affeldt v. Dudley Paper Co.Michigan Supreme Court · 1943
4 more not listed; retrieve them via the Exa API.