Darmana v. New Orleans Stock Yard, Inc.

LE BLANC, Justice.

A group of minority stockholders of New Orleans Stock Yards, Inc., instituted this proceeding in which they seek injunctive relief from the action of the majority of the Board of Directors of the corporation in having voted certain salaries for its officers which, it is alleged, are an unwarranted outlay of corporate funds and for which the corporation is receiving no consideration. In the alternative it is alleged that if there is consideration, the same is inadequate. They prayed for a temporary restraining order, pending trial of a rule nisi for a preliminary injunction,…