Miller v. Magline, Inc

Plaintiffs, as minority shareholders of Magline, Inc., commenced suit against the corporation and individual members of management seeking, inter alia, dissenter’s rights to the corporation’s action extending its life from 30 years to an indefinite term. MCL 450.1621; MSA 21.200(621). Partial summary judgment was granted by the lower court, dismissing all claims for dissenter’s rights. Plaintiffs appeal from the resulting final order.

Magline was incorporated in 1947 for a term of 30 years, which was then the maximum term permitted by Michigan law. To extend the corporate term, an affirmative…