Paulek v. Isgar

BERMAN, Judge.

Plaintiff, Victor A. Paulek, commenced this action for himself and all other similarly situated stockholders in the H.H. Ditch Co. (H.H.) to restrain the defendant officers, directors, and shareholders from proceeding to consolidate the Short Line Ditch Co. (Short Line) with H.H. From an adverse judgment in the trial court, plaintiffs appeal. We affirm.

At a special meeting of the shareholders of H.H., 56% of the shares represented at the meeting voted to consolidate the two ditch companies under the existing articles of incorporation and bylaws of H.H. At the next annual meeting…