Gerber v. Ty-Data, Inc.

This is an action by two minority shareholders to recover shares of stock which they claim are due them as original subscribers of the defendant corporation. The case was referred to a master who found that, although the plaintiffs may have been entitled to a certain number of shares of stock, their claims were barred by laches. A judge of the Superior Court adopted the master’s report and entered the judgment for the defendant from which the plaintiffs now appeal. It must be noted at the outset that as the plaintiffs did not submit preliminary objections to either of the master’s reports, as…