Knudsen v. Burdett

The plaintiffs in this action are stockholders in the Sunshine Oil Company, and seek to have set aside the sale of certain assets of that company to the de fendants. The defendants, J. F. Haxton and George P. Reed, are directors of the Sunshine Oil Company, and the trial court found that these two directors and the other de-. fendants conspired to the end that the sale of these corporation assets was made to the defendants at a grossly inadequate and unfair price, and in fraud of the corporation of which the defendants, Haxton and Reed, were directors. It appears from the evidence that…