Burke v. Fidelity Trust Company

This appeal is from an order dismissing a bill of complaint filed by certain stockholders of Calvert Bank, who dissented from its merger with the Fidelity Trust Company, to have the fair value of their stock determined by a proceeding in the equity court. The facts are not in dispute. The appellants hold 88 of the 12,000 outstanding shares of stock of Calvert Bank. Under the terms of the merger, effective February 1, 1952 and duly approved by the Bank Commissioner of Maryland, two shares of Fidelity stock were to be exchanged for one share of Calvert stock. The appellants received due notice…