North American Uranium & Oil Corp. v. South Texas Oil & Gas Co.

Marvel, Vice Chancellor:

Plaintiff is the registered holder of 750,000 shares of common stock of the defendant corporation and seeks a statutory1 review of the validity of the election of defendant’s board of directors at the annual meeting of stockholders of the corporation held on July 20, 1956. Plaintiff, who claims to be the beneficial as well as the record holder of 750,000 shares of defendant’s stock, sets forth allegations in its complaint charging irregularities in the holding of such election. The complaint as originally drawn prayed for an order directing a new election and granting…