West v. Sirian Lamp Co.

Harrington, Chancellor:

The complainants seek a decree for the cancellation of the entire no par common voting stock of Sirian Lamp Company on the ground of *400fraud and lack of consideration. The defendants, in support of their demurrer, deny that fraud is alleged; they also claim that in any event, the complainants’ apparent long delay in filing their bill is not excused by any appropriate allegations.

In the first instance, the complainants sought to sue the holders of the common stock as a class, without having served process on all of them, but now concede that no relief can be granted…