Lyon v. Holton

This is a derivative action brought by plaintiffs, as minority stockholders of the Bethlehem Steel Corporation, against the corporation and fifteen individual defendants composing its officers and directors.

Plaintiffs now move for an injunction pendente lite, in which they seek, among other things, to restrain defendants Schwab, Grace, Marshall and Johnston from soliciting and using proxies from the corporation’s stockholders, in connection with a certain proposal (hereinafter more fully discussed), to be submitted to the stockholders at the annual meeting to be held on May 19, 1938.

The…