Brown v. Spann

Hunstein, Justice.

In 1997, appellants James Brown and Reginald Simmons, alleged investors in WMLD radio station, learned that the station’s manager, Darrell Spann, was negotiating the sale of the station’s broadcast license. Appellants filed a petition for accounting and appointment of a receiver in the superior court, alleging that the corporation was being fraudulently and negligently managed. They also filed a motion for interlocutory injunction, seeking to enjoin the proposed sale on the ground that Spann did not have the authority to sell the license, a major asset of the corporation.…