United Milk Products Corporation v. Lovell

SIMONS, Circuit Judge.

The action below was a class suit originally begun in the state court by a minority preferred stockholder against the corporation and certain directors to enjoin the consummation of a reorganization plan. The case was removed to the United States District Court, where other, preferred stockholders intervened as parties plaintiff. The petition prayed that all steps taken be set aside, and further consummation enjoined, but if this were not feasible, for judgment in the alternative for the dissolution price of the plaintiff’s stock, which, by the terms of the certificates,…