Jacobson v. Backman

CALLISTER, Justice:

Plaintiffs originally commenced an action to compel defendants to deliver to them all the books and records of Wasatch Mines Company, a corporation. Both parties claimed to be the lawful directors of the corporation. During the pendency of this action a special stockholders’ meeting was called for the purpose of removing plaintiffs as directors and electing new directors. The lower court held the action in abeyance pending the outcome of this meeting.

The special stockholders’ meeting was held March 30, 1964. Of the 750,000 shares outstanding there were 682,316 shares…