Ziegler v. American Maize-Products Co.

WATHEN, Chief Justice.

Plaintiffs William Ziegler III and Fidelity Bank (Fidelity) appeal from the Superior Court’s denial of their application for injunc-tive relief to bar the issuance of additional shares of Class B voting stock by Defendant American Maize-Produets Company (American Maize) (Cumberland County, Brennan, I.). Plaintiffs premise their argument on the fact that 13-A M.R.S.A. § 902(3) 1 specifically requires that merger plans be approved by “the affirmative vote of the holders of at least a majority of the outstanding shares of each class of shares entitled to vote as a class…