Goldman v. Postal Telegraph, Inc.

LEAHY, District Judge.

Diversity and the requisite amount establish jurisdiction.

The occasion has never arisen for the Delaware courts to determine where a certificate of incorporation provides a preference stock is to be paid $60 per share upon liquidation before any distribution is to be made to the common stockholders whether an amendment under Sec. 26 of the Delaware Corporation Law 1 which attempts to provide that such preferred stockholder shall receive on dissolution less than the stated figure of $60 a share is valid. 2 Absent a precise holding by the state court, a federal court must…