Bay Newfoundland Co. v. Wilson & Co.

Layton, Chief Justice,

delivering the opinion of the court:

The complainant, the equitable owner of 1,700 of the Class A shares of the defendant corporation, sought to have declared void as to its ownership of the shares an amendment to the corporate charter by which Class. A shares and all arrearages of dividends accumulated thereon were converted into common shares; to enjoin payment of dividends on the defendant’s common stock until the arrearages of dividends on the Class A stock had been paid; or, in the alternative, a decree for the payment of an amount of money, based on the redemption…