Scott v. P. Lorillard Co.

The sixteen complainants severally own seven thousand four hundred and thirteen shares of the common stock of P. Lorillard Company of a market value of about $120,000. They seek, interalia, to restrain the company, its officers and agents, from permitting a vote to be had at a stockholders' meeting upon a proposed amendment to the by-laws of the company and upon a resolution authorizing an issue of stock. The most important part of the amendment to the by-laws reads:

"Resolved, That Article XII of the by-laws entitled `Bonus to Officers and Employes,' be amended so as to read as follows:

"Sectio…