Posen v. Cowdin

Upon the trial of this action, instituted by plaintiff stockholders of Universal Pictures Company, Inc., for the benefit of their corporation the court was advised that, subject to the approval of the court, a compromise had been agreed upon by the parties. The court thereupon directed that notice be given to all stockholders of the corporation advising them to attend and present any objections thereto. Pursuant to this invitation, the appellants appeared at hearings held by the court for the purpose of determining the propriety of the settlement. The court, however, against the opposition of…