Cohen v. Glass

Frankum, Justice.

Sheldon B. Cohen, a stockholder in Peach-tree Medical Building, Inc., brought an action against the corporation, its president, J. Wendell Glass and other stockholders named in the complaint, seeking to restrain the issuance of shares of stock to certain of the named individual defendants pursuant to stock options which allegedly had been previously granted to the defendants in violation of the plaintiff's preemptive rights guaranteed to him under the provisions of Section 1 of the Act approved February 15, 1952 (Ga. L. 1952, pp. 198, 199; Code Ann. § 22-1831.1) which Act…