Bjork v. April Industries, Inc.

GOULD, District Judge:

This case is related to Lowe v. April Industries, Inc., 531 P.2d 1297 (Utah 1974). The plaintiffs here were directors of the former Alta-Helena M & M Corporation which later became April Industries, Inc. The plaintiffs herein and Lowe in the related case were all issued restricted stock in the corporation for services rendered. At the time of the change in ownership of the corporation, the defendant April agreed to register plaintiffs’ shares if and when April made a public offering of its shares, which registration would have made plaintiffs’ shares marketable. This is…