Fenestra Inc. v. Gulf American Land Corp.

In brief, this is a suit brought by Fenestra, on authorization of a. majority of its board of directors, against three groups of defendants who allegedly conspired to deliver control of Fenestra to Gulf (one of the three groups) for the purpose of having Fenestra’s large amount of current assets exploited for the sole advantage of Gulf. The dollar amount involved is in excess of $6,000,000 and the stock interest involved is about 46% of the total common stock outstanding, something in excess of 293,000 shares. In claiming conspiracy by all defendants (including the seller, the purchaser, and…