Melsha v. Tribune Pub. Co. of Cedar Rapids

This is an equitable action, praying for a declaratory judgment. Plaintiff seeks an adjudication as to his status as a minority stockholder in defendant-corporation, under section 491.25, Code, 1946. A motion to dismiss the petition was sustained and plaintiff appeals.

The petition, as far as material, alleges in substance: that in June 1928 defendant’s corporate charter was issued, to continue for twenty years with renewal privileges; on June 8, 1948, there were issued and outstanding 625 shares of stock, of which the plaintiff owned 135 shares; on said date, the stockholders by a vote of 470…