Stringer v. Car Data Systems, Inc.

Plaintiffs were ,two of the 36 shareholders of Consumer Data Systems, Inc. (CDS). Plaintiffs contend that 32 of the other 34 shareholders, along with the corporation’s attorneys, devised and participated in an arrangement whereby they created a new corporation, Car Data Systems, Inc. (Car Data), transferred their stock in CDS to Car Data, brought about the merger of CDS into Car Data and, through the plan of merger, then caused Car Data to attempt to buy plaintiffs’ CDS shares for far less than their value. But see note 1, infra.

Plaintiffs brought this tort action against Car Data, the…