Supan v. Oriole Motor Coach Lines, Inc.

Cercone, J.,

This matter comes before the court on preliminary objections to plaintiff’s suit in equity.

Plaintiff, George Supan, is a former officer and director of Oriole Motor Coach Lines, Inc. Defendants are the Oriole Motor Coach Lines, Inc., and the officers and directors of the corporation.

Pursuant to the Port Authority Act of April 6, 1956, P. L. 1414, as amended, the Port Authority negotiated with the officers of the Oriole Company for the purchase of the bus line. In the course of negotiations, a detailed list of the assets was prepared and tentative purchase price of $675,000, a sum…