Michaels v. Pacific Soft Water Laundry

The two plaintiffs, as stockholders in the defendant laundry corporation, sued to have it declared that the sales of treasury stock of the corporation to defendants Bull and Thompson were void. The cause was tried by the court without a jury and resulted in a judgment for plaintiffs as prayed. The defendants Bull, Fletcher and Craft joined with the corporation in an appeal from the judgment. The defendant Thompson prosecutes a separate-appeal. Both appeals are presented on a joint bill of exceptions.

The two plaintiffs constituted the minority of the board of directors of the laundry company.…