Ostlind v. Ostlind Valve, Inc.

These suits were brought by minority stockholders of Ostlind Valve, Inc., an Oregon corporation, to obtain relief against alleged fraudulent and illegal acts of the majority. In the first case the plaintiff is Oscar Joel Ostlind, owner of 215 shares of the capital stock of the corporation. The defendants are the corporation and eight of its directors. The latter will be hereinafter referred to as the defendants. The complaint alleges that the defendants own and control more than two-thirds of the capital stock of the corporation and that the defendant E. Boy Jarman conceived and formulated a…