MacCrone v. American Capital Corporation

LEAHY, District Judge.

Plaintiffs own 65,024 shares of Class B common stock of American Capital Corporation (hereinafter called “American”). They also own 1 share of preferred, 2,181 shares of Class A common, and 1,349 shares of Class B common of Pacific Southern Investors, Inc. (hereinafter called “Pacific”).

American and Pacific stockholders were to meet on June 29, 1943, to vote on a proposed merger of both companies. On the morning of that day, plaintiffs filed their complaint seeking an injunction against the holding of the meeting for the reasons which I shall detail shortly. I refused to…