Gray v. United Produce & Products Co.

This proceeding commenced with the filing of a bill in equity by four individuals against the corporation named and two individual respondents. Two of the original complainants were residents of the State of Alabama; two were residents of other states. The bill alleged that the complainants jointly owned a majority of the stock of the respondent corporation and jointly constituted a majority of the Board of Directors of the respondent corporation. The bill further alleged that the corporate defendant was unable by reason of dissension among the Board of Directors to accomplish the purpose for…