TRAHER v. REPUBLIC FIRST BANCORP, INC.

IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA DOUG TRAHER, : : Plaintiff, : CIVIL ACTION : No. 19-1202 v. : : REPUBLIC FIRST BANCORP, INC., : : Defendant. : McHUGH, J. January 13, 2020 MEMORANDUM OPINION This is an action brought by a shareholder of a publicly traded corporation alleging that it breached its articles of incorporation by improperly conducting a vote on a proposed amendment that would double the corporation’s shares. The irregularity at the center of the case was the corporation’s failure to follow the rules for counting the votes as set forth in…