Donohue v. Heuser

MILLIKEN, Justice.

Appellants, minority preferred stockholders, seek in this action to enjoin the consolidation of the Louisville Railway Company (hereinafter referred to as “Railway”) with the Capital Transit Company of Frankfort (hereinafter referred to as “Capital”). The Chancellor dismissed appellants’ petition.

In August, 1949, all the directors of both Railway and Capital voted in favor of consolidation. Thereafter all of Capital’s-stockholders, all of the holders of Railway’s common stock, and the holders of roughly 91 percent of Railway’s preferred stock, consented to it. Appellants are…