Cole v. Wells
Massachusetts Supreme Judicial Court
Bill in equity, filed in the Superior Court on December 24, 1914, by the administrator of the estate of Robert H. Cole, late of Southbridge, the owner of twenty-three per cent of the capital stock of the American Optical Company, a Massachusetts corporation, against the owners of the other seventy-seven per cent of the stock, who were the officers and were in full control of the corporation, and against the corporation.
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Bill in equity, filed in the Superior Court on December 24, 1914, by the administrator of the estate of Robert H. Cole, late of Southbridge, the owner of twenty-three per cent of the capital stock of the American Optical Company, a Massachusetts corporation, against the owners of the other seventy-seven per cent of the stock, who were the officers and were in full control of the corporation, and against the corporation. The allegations of the bill, so far as material to the decision, were in substance that the individual defendants and George W. Wells, since deceased, after acquiring the full…
1Opinion of the CourtBbaley, J.
The bill, as originally framed, charged the defendants as directors with having wrongfully appropriated funds of the corporation to a large amount for their own personal benefit, and also that at a meeting of the stockholders, duly called to take action on a plan proposed by the directors to transfer all the assets of the corporation to themselves as trustees to hold under the declaration of trust, a copy of which is annexed to the bill, the plaintiff representing a minority of the capital stock, having voted against the transfer, thereafter made a demand in writing upon the corporation in…
2Cases cited14 opinions
- Brewer v. Proprietors of the Boston TheatreMassachusetts Supreme Judicial Court · 1870
- von Arnim v. American Tube WorksMassachusetts Supreme Judicial Court · 1905
- United Zinc Companies v. HarwoodMassachusetts Supreme Judicial Court · 1914
- Mason v. Pewabic Mining Co.Supreme Court of the United States · 1890
- Farley v. KittsonSupreme Court of the United States · 1887
9 more not listed; retrieve them via the Exa API.
3Cited by35 opinions
- Peterson v. HopsonMassachusetts Supreme Judicial Court · 1940
- Druzik v. Board of Health of HaverhillMassachusetts Supreme Judicial Court · 1949
- Chicago Corp. v. MundsCourt of Chancery of Delaware · 1934
- Saxon Theatre Corp. of Boston v. SageMassachusetts Supreme Judicial Court · 1964
- Reilly v. Selectmen of BlackstoneMassachusetts Supreme Judicial Court · 1929
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