Osborne v. United Gas Improvement Co.

Opinion by

Mr. Justice Jones,

The plaintiffs, as minority stockholders of the United Gas Improvement Company, a Pennsylvania corporation (hereinafter referred to as “U.G.I.” or the “Company”), filed their bill in equity against the Company, its President and its Secretary-Treasurer seeking to enjoin them from putting into effect a pension plan for employees of the Company, known as the Retirement Annuity Plan. The Plan had received the due approval of the requisite majority of TJ.G.I.’s outstanding capital stock at a special meeting of its stockholders called for the express purpose, inter…