Milam v. Cooper Co.

McDONALD, Chief Justice.

This case is a suit by certain minority stockholders of The Cooper Company, Inc., for themselves and on behalf of tke corporation, to set aside a loan in the amount oí $292,954.33 made by the directors of The Cooper Company and later confirmed by the stockholders, to J. R. Milam, Jr., and for judgment against Milam for the amount' of the loan, plus interest at 4 per cent, together with foreclosure 'of lien of 2005 shares of The Cooper Company stock which Milam pledged to secure the loan.

Appellant, J. R. Milam, Jr., was a stockholder and a Vice-President of The Cooper…