Bank of America National Trust & Savings Ass'n v. West End Chemical Co.

Plaintiffs, purporting to act as representatives of themselves and all other owners of preferred stock of the West End Chemical Company, brought this action for declaratory relief. They named as defendants the corporation, the members of the board of directors thereof and certain owners of common stock thereof, the last mentioned de fendants being named as representatives of themselves and all other owners of said common stock. A complaint in intervention was later filed by certain persons who owned both preferred and common stock. All parties agreed that a controversy existed as to the…