Gidwitz v. Lanzit Corrugated Box Co.

This action was brought by certain shareholders of Lanzit Corrugated Box Co., an Illinois corporation, under subparagraphs (1), (2), and (3) of paragraph (a) of section 86 of the Business Corporation Act of this State (Ill. Rev. Stat. 1955, chap. 32, par. 157.86) on the theory that both the directors and shareholders of this corporation are deadlocked and that the original defendants had committed illegal, oppressive or fraudulent acts.

Answers and counterclaims were filed to this by defendants asking for an accounting and other relief and later an amended complaint was filed to which answers…