Koster v. Shenandoah Corp.

In an action brought on behalf of plaintiff and all other stockholders of a corporation wherein it is alleged that the assets of such corporation were undervalued as a basis of consolidation, as the result of which the stockholders did not receive shares commensurate in value to their former holdings, which undervaluation resulted from the fraud of the individual officers and directors who are named as defendants, orders granting motions of defendants-respondents for judgment on the pleadings and dismissal of the complaint, and judgments entered in accordance therewith, unanimously affirmed,…