Sydnor, Howey & Co. v. Sydnor

For some time prior to the year 1937, J. M. Sydnor had been the owner of eight shares of the stock of Sydnor, Howey & Company, Inc., a Virginia corporation engaged in the fuel and building material business in the city of Richmond. Sydnor became dissatisfied with the conduct and management of the business, and on January 13, 1937, through his attorneys, wrote the corporation suggesting that an audit be made of its affairs.

*547This audit was completed and shortly thereafter, on July 14th, Sydnor’s attorneys wrote the corporation that their client desired either that his stock be purchased by “the…