Legal Opinion
Securities and Exchange Commission v. Transamerica Corp.
District Court, D. Delaware
Decided July 11, 1946No. Civil Action 861PublishedCited by 9 opinions
1Opinion of the Court
LEAHY, District Judge.
1. The inquiry applicable to the Gilbert proposals is whether they are a “proper subject for action by security holders” at an annual meeting. This inquiry must be answered not by federal but by Delaware law.
I shall first consider the proposal that defendant send a report as to what occurred at all annual meetings to its stockholders. This resolution was not intended by Gilbert to he offered as a by-law amendment hut as a straight resolution. Under Delaware law this resolution is not “a proper subject for action” by stockholders. Sec. 9 of the Delaware Corporation Law…
2Cases cited16 opinions
- Norwegian Nitrogen Products Co. v. United StatesSupreme Court of the United States · 1933
- McQuade v. StonehamNew York Court of Appeals · 1934
- People Ex Rel. Manice v. . PowellNew York Court of Appeals · 1911
- Securities & Exchange Commission v. Associated Gas & Electric Co.Court of Appeals for the Second Circuit · 1938
- Securities & Exchange Commission v. Fiscal Fund, Inc.District Court, D. Delaware · 1943
11 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Sol A. Dann, John H. Neville and Louise A. Turek v. Studebaker-Packard Corporation, Harold E. Churchill, Hugh J. Ferry, and A. J. PortaCourt of Appeals for the Sixth Circuit · 1961
- Barnett v. Anaconda CompanyDistrict Court, S.D. New York · 1965
- Union Pacific Railroad v. Chicago & North Western Railway Co.District Court, N.D. Illinois · 1964
- Abercrombie v. DaviesCourt of Chancery of Delaware · 1956
- Securities & Exchange Commission v. Transamerica Corp.Court of Appeals for the Third Circuit · 1947
4 more not listed; retrieve them via the Exa API.