Davis v. Louisville Gas & Electric Co.

The Chancellor.

The complainants are holders of Class B stock. They contest the right of the defendant to amend its certificate of incorporation in the manner proposed for two reasons — first, because the corporation is without lawful power to adopt the amendment, and second, conceding the power to ■exist, the changes proposed by the amendment are nevertheless unfair, inequitable and a fraud upon the complainants, and should therefore be enjoined.

Logically the first' contention should be disposed of first, because if it be well grounded the second need not be considered.

First, then, has the…