Klopot v. Northrup

This is an action brought by the plaintiff, a minority stockholder in the defendant corporation, to which we shall refer as the Newman Company, against the corporation and its directors other than himself to secure an injunction against a transfer of some of its assets to another corporation, to which we shall refer as the Miles Company, or in the alternative a judgment that the plaintiff is entitled to be paid the value of the stock he owns in the Newman Company. From a judgment for the defendants, the plaintiff has appealed.

There is little dispute as to the underlying facts, and with some…