Hays v. Georgian Inc.

This suit in equity is brought by the plaintiff, a minority stockholder, to recover in behalf of The Georgian Incorporated, for breaches of duty committed against that corporation by some of the defendants.

The case comes before us on demurrers to the bill. The substantive allegations of the bill are these: The defendants are The Georgian Incorporated, hereafter called the new corporation, The Georgian Inc., hereafter called the old corporation, four named individuals, hereafter called directors (who were the officers and directors of both the new and the old corporations, and who owned and…