Zottu v. Electronic Heating Corp.

The plaintiff, the holder of fifty per cent of the common stock and one of the four directors of the Electronic Heating Corp., a Massachusetts corporation, brought this bill in equity under G. L. (Ter. Ed.) c. 155, § 50, as amended, against one Samuels and one Racoosin, the remaining stockholders, each holding twenty-five per cent of the common stock and each being a director of the said corporation (one Heick was the fourth member of the board of directors, who succeeded the plaintiff’s wife as a director and voted consistently with the vote of the plaintiff), alleging that the directors and…