Zweifach v. SCRANTON LACE COMPANY

JOHN W. MURPHY, Chief Judge.

This is a diversity action, 28 U.S.C.A. § 1332(a) (1), wherein plaintiff, a citizen of New York, a shareholder and director 1 of The Scranton Lace Company, a Pennsylvania corporation having its principal office and place of business in this district, seeks to invalidate a contract between the corporation 2 and the Smith-Palmer Machine Corporation, of Illinois, whereby Scranton Lace assigned, transferred and delivered all of its remaining authorized 3 but previously unissued no par value common stock (82,197 shares) and 544 shares held as Treasury Stock to…