Venner v. American Telephone & Telegraph Co.
New York Supreme Court
Action by a stockholder for an injunction to restrain issue of convertible bonds of defendant corporation and to restrain conversion of said bonds into capital stock of the corporation, so far as issued, and for accounting.
1Opinion of the CourtErlanger, J.
The validity of an issue of $50,000,000 of convertible bonds of the defendant corporation is attacked by the plaintiff upon the ground that, so far as the bonds are convertible into capital stock, an increase of stock 'beyond the amount limited by the charter of the corporation would result, and that no *120opportunity to subscribe to the new stock in proportion to their existing holdings has been given to stockholders, including the plaintiff, in accordance with certain provisions of the certificate of incorporation, which called for sixty days notice to stockholders within which to exercise…
2Cited by2 opinions
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