Kern v. Chicago & Eastern Illinois Railroad

MR. PRESIDING JUSTICE SCHWARTZ

delivered the opinion of the court.

This is an appeal by defendants from a declaratory decree in a class action brought by plaintiffs as two holders of Class A stock of the defendant company, who are suing on behalf of all such stockholders. The suit concerns the validity of a bylaw designed to change and modify the rights of the Class A stockholders with respect to cumulative voting.

The case is before us for the second time, the first opinion appearing in 31 Ill App2d 300, 175 NE2d 408 (1961), where the facts are fully set forth. At that time we reversed a…