Loring v. Lamson & Hubbard Corp.

The plaintiff by this bill in equity (filed on April 10, 1923), seeks to compel the defendant, a Massachusetts corporation, to issue to him a certificate for five shares of its preferred stock, in exchange for five shares of preferred stock of Lamson and Hubbard Canadian Company, Limited, in pursuance of a vote of the defendant’s board of directors passed on January 27, 1919. Before considering the legality of that vote, the essential facts agreed upon must be summarized.

The defendant corporation was organized under the laws of this Commonwealth on January 15, 1918, with an original…