Valley City Milling Company v. Nannie B. Weckler

Upon consideration of the briefs and record in the above entitled cause and upon oral arguments presented to the court, and there being involved certain corporate action on the part of the appellant, the result of which, if sustained, would invalidate certain preferred stock in the possession of the appellee in breach of the explicit undertakings of the corporation, and it being clear that the successor corporation to which assets were assigned had no reality,

We are of the view that the judgment below 93 F.Supp. 444, in so far as it covers the par value of the appellee’s shares and the…